BuzzFeed is shrinking and shifting the focus of its Pulitzer prize-winning news division as the digital media company, best known for its lighthearted lists and quizzes, strives to increase its profitability.
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The New York-based company is offering voluntary buyouts in its high-profile, 100-person newsroom and some top editors are leaving. They include Mark Schoofs, the editor in chief of BuzzFeed News, and deputy editor in chief Tom Namako, who announced a move to NBC News Digital on Tuesday. Ariel Kaminer, the executive editor for investigations, is also leaving.
BuzzFeed News is unprofitable but has won awards, including its first Pulitzer last year, and its staff has been regularly poached by traditional news organizations. BuzzFeed spokesman Matt Mittenthal said about 35 people were eligible for the buyouts, but the company doesn't expect all of them to take one.
Beyond the newsroom buyouts, the company also said it is cutting 1.7% of its staff. BuzzFeed's shares have dropped more than 40% since the company went public in early December via what's known as a SPAC, merging with a company that already trades, rather than an IPO.
