While digital media companies are laying off staffers, BuzzFeed CEO Jonah Peretti says he believes the climate is improving.
BuzzFeed CEO Jonah Peretti laid off employees earlier this year as the company aimed to tighten expenses. The staff is in the midst of organizing a union.
Facebook and Google, which run platforms where BuzzFeed and other digital media companies distribute their content, could potentially face government regulation, which could affect the algorithms and content on their platforms. BuzzFeed’s news division is also seeking unionization.Why were the layoffs necessary?
Your business still relies on these partners, like Facebook and Google. Do you feel like they’re paying you enough for the content that you provide them? The irony of it though, is it ends up hurting the big platforms. The business model for fake news works, but the business model for news is a lot more challenging and unless the marketplace is managed more aggressively, they are not going to get the mix of content that supports all the things that will help them in the long run build a strong audience.
Some have compared BuzzFeed to Yahoo. Yahoo at its peak was involved in a lot of different things. Is BuzzFeed spread too thin? Forming a union is a decision that employees make. It’s not a decision that CEOs make. I really value my employees. A lot of people who found companies have a real different relationship to how they think about employees. You tend to have a mindset of ‘we’re all in this together and our interests are aligned and we’re fighting for the same thing.’
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