Buzzfeed to Reduce Workforce by 35% Following Ownership Change

WHO:

Deadline - BuzzFeed, Byron Allen

WHAT:

Deadline - BuzzFeed plans to cut 35% of its workforce and dedicated contractors across its brands.

Variety - BuzzFeed is laying off about 35% of its current employees and contractors.

WHY:

Deadline - The reduction in workforce plan is intended to advance the company’s path towards profitability and positive cash flow generation by streamlining its organizational structure.

Variety - The layoffs follow the digital media company’s deal to sell a controlling ownership stake to Byron Allen.

(UPDATED July 27, 2026 23:22 UTC)

BuzzFeed is planning to lay off about 35% of its workforce and dedicated contractors across its brands as part of a strategy to streamline its organizational structure. This reduction comes after the digital media company struck a deal to sell a controlling ownership stake to Byron Allen, aiming to advance its path toward profitability and positive cash flow generation. The layoffs reflect the company's ongoing efforts to adapt to the changing media landscape and improve its financial health.