BuzzFeed overhauls advertising unit in bid to place revenues back on an even keel
Social news and entertainment platform BuzzFeed is embarking on yet another restructure, this time focused on its ad sales team in a bid to further balance the books.
BuzzFeed overhauls advertising unit to place revenues on an even keel
The proposed efficiency drive is expected to result in 20 lay-offs, as well as the closure of its office in France, although a further 45 posts are expected to be created when the dust settles, according to reports.
Lee Brown, BuzzFeed chief revenue officer, said: “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."
BuzzFeed has entered a period of retrenchment following years of rampant growth, in November it laid-off 100 staff with the cutbacks affecting its ad sales and business operation teams. In addition, it has also reorganised its video entertainment division through the creation of BuzzFeed Entertainment, plus a native advertising offering.
The closure of BuzzFeed's French operations comes just four years after its opening, a decision criticised by editor Stephane Jourdain as ‘brutal and completely unexpected’, adding that the past four months had brought rising viewers and traffic. In the UK BuzzFeed has slashed its staff by a third.
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