BuzzFeed cuts 35% of staff after Byron Allen takeover

BuzzFeed announced it will lay off roughly 180 employees—about 35% of its workforce—across its BuzzFeed, HuffPost and Tasty properties. The cuts were disclosed in an SEC filing on Monday and are described as necessary to place the business on a path to profitable and sustainable growth.

Byron Allen became the company’s majority owner and chief executive in May after a $120 million transaction gave him a 52% stake and an additional $26 million investment to stabilize the firm. Allen plans to incorporate BuzzFeed, HuffPost and Tasty into a broader free ad‑supported streaming strategy centered on his Local Now platform.

The layoffs come amid a weak digital advertising market, with BuzzFeed reporting a nearly 20% year‑over‑year decline in ad revenue and a quarterly net loss of $15.1 million, widening from $12.5 million a year earlier. The company is scheduled to report its next earnings on August 4.