The best part are the "journalists" are afraid.
>The newsroom, which reportedly loses Buzzfeed about $10million a year, is offering voluntary buyouts, while some top editors are leaving, CNBC reports. Several key shareholders have told founder and CEO Jonah Peretti to shut down the entire news operation.
>The departures include Mark Schoofs, the editor in chief of BuzzFeed News, and deputy editor in chief Tom Namako, who announced a move to NBC News Digital on Tuesday. Ariel Kaminer, the executive editor for investigations, is also leaving.
>On BuzzFeed's earnings call Tuesday, CEO Jonah Peretti said the company is accelerating its investment in vertical video popular on apps like TikTok.
>'This is the exact opposite of the message we got from Mark [Schoofs],' one employee said. 'We have been pushed toward longer form, less reactive news for two years, and now I'm hearing the exact opposite. I don't understand beyond the shareholders not liking news what the real problem is here.'
>Another noted Peretti's absence at the Q&A: 'This is very frustrating, and it's very rude that Jonah left,' said another employee. 'It's f--king disrespectful. All of this is really disheartening and hurtful. This is why we have a f--king union. You can't just treat people like this.'
>Another staffer had similar concerns: 'To be told by Jonah - who has now left the meeting, which everyone is obviously really upset about - that he's not going to subsidize us as if we're a charity case in this company, is insulting. Morale is such a problem.'