BuzzFeed cuts 12% of staff citing worsening econ conditions

NEW YORK (AP) — Digital media company BuzzFeed is cutting 12% of its workforce, citing worsening economic conditions. The New York company, which made the announcement in a regulatory filing on Tuesday, did not disclose how many workers it was letting go. According to the data firm FactSet, BuzzFeed has 1,522 employees, which would mean roughly 180 of them would be laid off. Advertisers, on which BuzzFeed relies, have broadly pulled back spending to address rising costs. Social media and other companies who rely on digital advertising have also recently announced layoffs, including Facebook parent Meta, Twitter and Snap.