×

BuzzFeed Restructures Advertising Group: Lays Off 20 Staffers But Looks to Hire 45

BuzzFeed, looking to put itself into a better position to hit its revenue targets, is making another sizable revamp to its advertising team.

The New York-based digital media company is letting go about 20 employees in the ad division, a spokesman confirmed. At the same time, it plans to hire people for 45 new positions.

BuzzFeed chief revenue officer Lee Brown announced the changes in a memo to staff Thursday. The reorg was first reported by Recode.

“BuzzFeed is taking steps to further strengthen its advertising team and support its diversifying revenue mix, including opening more than 45 new positions across Creative, Programmatic, Business Development, and other growth areas,” the company said in a statement. “Unfortunately, these changes will result in a handful of positions being eliminated. We thank our outgoing colleagues for their contributions to BuzzFeed and wish them the best of luck.”

The move comes after BuzzFeed pink-slipped 100 staffers in November, layoffs that cut across ad sales and business operations.

Popular on Variety

In the memo Thursday, Brown wrote that BuzzFeed needs “stronger accountability across our teams, to ensure each team is truly on the hook for its goals. There are some clear areas where we can operate more efficiently and ease the workload for our overextended teams.”

The company also recently reorganized its video-entertainment group. Earlier this year, it created BuzzFeed Entertainment and Native Advertising, a new group headed by executive creative producer Summer Burton combining the core entertainment business with the branded-creative groups. BuzzFeed Studios, which produces original short- and long-form video content, is now led by former MTV producer Lauren Dolgen (replacing Matthew Henick, who left to join Facebook).

BuzzFeed’s backers include NBCUniversal, which has invested $400 million in the company. Privately held BuzzFeed does not disclose financial results.

More Digital

  • La unidad

    Berlin: European VODs Innovate, Create to Stay Afloat in Global Streaming Wars

    Netflix and other streaming giants might be setting the pace for a global TV landscape upended by video-on-demand technology, but European players are shaking up domestic markets by ramping up investment in original production, forging unlikely partnerships, and looking to beat Netflix at its own game by finding innovative ways to personalize the VOD viewing [...]

  • ABC News Live - David Hatcher

    ABC News Live Taps BuzzFeed's David Hatcher to Oversee Morning News Programming

    ABC News has recruited veteran TV producer David Hatcher as executive producer to oversee the morning news programming block for the ABC News Live streaming network. Hatcher most recently spent a year at BuzzFeed, where he was executive producer of morning news show “AM2DM” on Twitter. For ABC News Live, Hatcher will be responsible for [...]

  • Netflix-logo-N-icon

    Netflix Launches Top 10 Daily Rankings of Most Popular Titles by Country

    Netflix is taking top 10 lists of its most popular streaming content to members across the globe. Starting Monday (Feb. 24), Netflix said, it is rolling out a new row in its interface that will show the overall top 10 titles in a subscriber’s country, as well as the top 10 most popular series and [...]

  • Parasite

    'Parasite' Will Stream Exclusively on Hulu in U.S.

    Hulu has exclusive U.S. streaming rights to “Parasite,” the film that made history as the first foreign-language film to win best picture at this year’s Oscars. Under a deal with indie studio Neon, “Parasite” will be available on Hulu beginning Wednesday, April 8, the Disney-controlled streamer announced. The movie from filmmaker Bong Joon Ho won [...]

  • media stocks - wall-street

    Disney, Amazon, ViacomCBS Shares Hit as Stock Market Tumbles Amid Coronavirus Fears

    Fears of the Coronavirus spreading across the world sent major stock indices tumbling on Monday morning. Shares of Disney and Amazon were down 4% for the day as reports that the deadly virus has hit South Korea and Italy spooked investors. The Dow Jones Industrial Average was down more than 1,000 points, or 3.5%, at [...]

  • Disney-Plus-Logo

    Disney Plus Launches Plan Discounts in U.K., Europe Ahead of March Debut

    Disney, looking to lock in Disney Plus customers in the U.K. and European markets prior to its official launch next month, is offering 14%-17% discounts on the streaming service — if users sign up for a one-year plan. Leading up to the March 24 debut of Disney Plus in the U.K., Ireland, France, Germany, Italy, [...]

  • Alex Dundas - Whistle

    Whistle Hires Ex-ITV Exec Alex Dundas as Head of Unscripted Originals (EXCLUSIVE)

    Digital-media company Whistle recruited Alex Dundas, most recently with ITV Entertainment, as executive VP and head of unscripted premium originals. Based in Whistle’s L.A. office, Dundas will oversee development and packaging of new unscripted shows from Whistle and also will support sales to TV network and streaming partners. He reports to Dominic Ianno, EVP of [...]

More From Our Brands

Access exclusive content