By Todd Spangler NY Digital Editor BuzzFeed, still hoping to avoid layoffs during the economic downturn caused by COVID-19, will furlough 68 staffers without pay starting next week through mid-August.
Among other cost-cutting steps, the digital-media firm also will extend previously enacted scaled salary reductions through the end of the year.
CEO Jonah Peretti announced the furloughs in a memo Wednesday to BuzzFeed employees, a copy of which was obtained by Variety.
He said the company is hoping to hold losses to under $20 million for the year, after the drop-off in revenue in recent weeks has been even bigger than anticipated. “I’ve made the very difficult decision to furlough 68 employees beginning May 16th.
Read more on variety.com
Get the latest stars news and celebrity rumours with exclusive stories, photos, videos and interviews.
Breaking up, scandals, engagements, divorces, gossip – all you need to know about the private lives of your favorite celebs.
Get to know the latest showbiz news along with exclusive interviews and even more. All this is waiting for you on the main page 24 hours a day, 7 days a week! Who, where, when, with whom, how, why and for what!? Stay tuned to know first!
Just follow us daily and we will provide you with the current news from the life of famous stars and celebrities.
Owner: SNOWLAND s.r.o.
Registration certificate 06691200
Address:
Snowland s.r.o.
16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
Czech Republic
©2024. All rights reserved.