BuzzFeed Inc. Cuts 180 Positions After Byron Allen Acquisition

BuzzFeed Inc. eliminated approximately 180 positions, representing roughly 35 percent of its total workforce, as part of a restructuring effort led by new owner Byron Allen. The layoffs, disclosed in a U.S. Securities and Exchange Commission filing on July 28, 2026, affect staff and contractors across the company's primary brands, including HuffPost, Tasty, and its film and TV studio.

The workforce reductions follow a period of financial instability, with the company reporting a net loss of approximately $15 million in the first quarter of 2026 and a nearly 20 percent year-over-year decline in advertising revenue. To stabilize operations, Allen injected approximately $26 million in fresh capital into the organization.

Allen, who acquired a 52 percent controlling stake in the company in May 2026 through Allen Family Digital for $120 million, replaced founder Jonah Peretti as CEO. Management plans to pivot the company toward user-generated content and free ad-supported streaming platforms to rebuild revenue and ensure sustainable growth.