BuzzFeed News to close and parent company to make substantial layoffs

Chief executive Jonah Peretti says in company-wide email BuzzFeed can no longer continue to fund BuzzFeed News'

BuzzFeed is shutting down what remains of its award-winning news department, signalling the end of an era for a website that once promised to upend the industry.

Founder Jonah Peretti told staff on Thursday that the company can no longer continue to fund BuzzFeed News" and would be looking to make substantial redundancies across the company.