Buzzfeed shutters HuffPost Canada, downsizing other sectors of HuffPost

Three weeks after BuzzFeed acquired HuffPost from Verizon Media, they have announced HuffPost is being downsized in a “restructuring effort aimed at stemming financial losses.”

Mid-Tuesday, it was announced that HuffPost Canada would shutter all operations later this month. All publication has come to a halt and all articles will exist as an online archive.

This all came just two weeks after HuffPost Canada announced they had filed to join CWA Canada, an all-media union in Canada.

According to HuffPost Canada Union on Twitter, the decision was made before the union was ever formed.

CEO of BuzzFeed, Jonah Peretti told staffers that the decision was made to “fast-track the path to profitability” for HuffPost, enabling the company to break even this year and then down the road make a profit. HuffPost’s losses were a total of roughly $20 million in 2020. The decision will affect 47 U.S. employees.

“Though BuzzFeed is a profitable company, we don’t have the resources to support another two years of losses,” Peretti said.

“We want to ensure the homepage remains a top destination on the internet,” he added. “We also want to maintain high traffic, preserve your most powerful journalism, lean more deeply into politics and breaking news, and build a stronger business for affiliate revenue and shopping content.”

The ongoing financial crisis brought by COVID shutdowns also affected BuzzFeed, which cut pay to employees and furloughed dozens last summer. They then eventually laid-off 6 per cent of their workforce in response to the economic downturn.

According to Steven Perlberg, he says they are also looking at slimming down their sectors of the UK and Australia.

While HuffPost Canada employees mourned the loss of their jobs, many took to Twitter with an opposite view and approach.

What do you think about the closure of HuffPost Canada? Let us know in the comments below.

Diverge Media is an independent media company dedicated to bringing you the stories that matter. We do not, and will never accept government funds for our work.

Therefore, we rely entirely on the donations of our generous readers/viewers to help us continue our work. If you like our work and want to support independent Canadian media – please support us by donating in the form below or get a Diverge Media hat at our store!

Diverge Media Donation

Personal Info

Diverge Media Donation

Donation Total: $20.00

1 in 1000 dead from Covid Vaccine Ok with Dr. Mitch Shulman?
On NewsTalk 1010s Jerry Agar show today, guest Dr. Mitch Shulman was …
Freedom of Speech Attacked at 1:30 AM – Bill C-10 Off to the Senate
On June 22nd at 1:30 in the morning, the Liberal Government of …
Saskatchewan, Alberta soon to lift all public health orders — Ontario still has no plan to drop mask mandates
While Ontario still has no plan to completely repeal mask mandates — …
MP Derek Sloan Concerned About Censorship of Doctors and Scientists – Press Conference
On June 17th, 2021, Derek Sloan, the independent MP from Hasting-Lennox and …