Todd Spangler NY Digital EditorBuzzFeed News editor-in-chief Mark Schoofs is stepping down, along with at least two other top editors, as the digital media company said it will be cutting jobs across the board.“After almost two rollicking and deeply fulfilling years as editor-in-chief, I’ve decided that it’s the right time to move on,” Schoofs wrote in an internal memo to staff Tuesday.In addition to Schoofs, BuzzFeed News deputy editor-in-chief Tom Namako announced that he is leaving to become executive editor of NBC News Digital.
In his memo, Schoofs had said Namako “would have been a natural successor” to take the EIC spot at BuzzFeed News. Also exiting BuzzFeed News is Ariel Kaminer, executive editor of investigations.
The shakeup came as Buzzfeed reported its first financial results a public company. In 2021, the company posted $398 million in revenue — 31% below the $520 million it had projected earlier.
CEO Jonah Peretti, in a memo to employees Tuesday, said “BuzzFeed News will need to get smaller,” with the company planning to reduce headcount overall by 1.7% going forward.For Q1, on a pro forma basis including Complex Networks, BuzzFeed said it expects revenue to be down by “a low single-digit percentage year-over-year.” Excluding Complex Networks, BuzzFeed projected Q1 revenue to grow by approximately 30%.
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