BuzzFeed jumps on plan to reduce 35% of workforce

BuzzFeed

28/07/2026 10:20

 ** Shares of digital media firm BuzzFeed BZFD.O jump 7% to $1.21 in premarket trading
     ** Co approved a plan to reduce workforce by nearly 35% - SEC filing
** Estimates restructuring charges of between $6.50-$8.50 mln, annualized savings between $29-$32 mln Q3 onwards
** Workforce reduction comes after media mogul Byron Allen bought a majority stake in BZFD in May 
** Up to last close, BZFD is up 21.4% YTD

 (Reporting by Sudeshna Ghoshal in Bengaluru)
 ((Sudeshna.Ghoshal@thomsonreuters.com;))