BuzzFeed, the digital media company known for its viral content, announced sweeping layoffs on Thursday as part of an effort to cut costs and return the business to profitability. The cuts, affecting approximately 35% of its workforce, will eliminate about 180 employee and contractor roles across BuzzFeed, HuffPost, and Tasty.
Sweeping Cuts to Restructure the Business
The layoffs were disclosed in a US Securities and Exchange Commission (SEC) filing, with the publisher saying that the restructuring will streamline operations, reduce costs, and support its push toward profitability.
According to its latest annual report, the company reported having 507 employees across five countries as of 31 December 2025. The restructuring is the first major shake-up since Byron Allen took control last May.
In an internal memo, the executives described the layoffs as a necessary step. 'Today we are making important changes to BuzzFeed that are required to put our business on a path to profitable and sustainable growth.'
The company added that they've worked to save as many jobs as possible but ultimately decided that layoffs were unavoidable. 'We've been actively managing costs for some time, working through scenarios to save as many jobs as possible. Unfortunately, the elimination of certain roles is still required.'
BuzzFeed Bets on Long-Term Savings
The company said the restructuring is expected to produce substantial financial benefits over time. BuzzFeed estimates restructuring charges of between $6.5M and $8.5M, with most of the expenses expected to be recorded in the third quarter of 2026.
In return, the company anticipates the restructuring to generate annual savings of about $29M to $32M, improve cash flow, and accelerate its path to profitability. BuzzFeed is scheduled to report its second-quarter results on 4 August, when the company is set to provide further details on the restructuring.
A New Era Under Allen
The layoffs come weeks after Byron Allen's family office secured a controlling stake in BuzzFeed through a $120M acquisition. The agreement consisted of $20M in cash and a $100M promissory note due in five years with 5% annual interest.
After the takeover, co-founder Jonah Peretti stepped down as CEO to lead the newly created BuzzFeed AI division as president. Meanwhile, Allen took over the roles of chairman and CEO. He has said that he wants to turn BuzzFeed into a leading free-streaming business by combining its brands with his existing media portfolio.
Allen has expressed confidence in the turnaround, saying, 'I've done much harder things. They don't have problems that are that big. The money is the easy part. The strategy is to really grow this.'
Betting Big on Free Streaming
The restructure is part of a larger plan to integrate BuzzFeed and HuffPost with Allen Media Group's Local Now streaming platform to create a larger free streaming business that combines premium programming and user-generated content. Allen believes that the goal is to attract more advertising revenue as viewers continue to move away from traditional cable television.
'We can immediately help them bring in ad dollars,' he said. He also described free streaming as the industry's biggest opportunity, saying that the two best words in the world are 'free' and 'streaming.'
That strategy was echoed in an internal memo, which said BuzzFeed Studios will operate as an independent business unit within BuzzFeed Inc. In addition, content and tech teams will focus on audience growth, revenue, and profitability. With lower operating costs and a greater emphasis on free streaming, BuzzFeed is aiming to return to profitability.
