BuzzFeed News editor in chief Mark Schoofs announced his resignation on Tuesday—and told employees the company must “once again shrink in size” to achieve profitability by the end of 2023.
Ariel Kaminer, the executive editor of strategy at BuzzFeed News, will be the division’s interim editor in chief.
BuzzFeed’s cuts to the news team, an attempt to make it more profitable, were announced on the company’s first earnings call Tuesday, along with other changes Axios described as a “push to course correct” following the company’s fumbled stock market debut. The company said it would be consolidating advertising teams between BuzzFeed and Complex—which it acquired as it went public—and making investments in short-form video.
The downsizing of BuzzFeed’s news division is the latest bad news for a company that has seen little else since its
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