BuzzFeed News to shut down: report
Buzzfeed (Nicholas Kamm:AFP)

BuzzFeed News is shutting down amid a company-wide workforce cut.

The formerly iconic media company's founder and CEO Jonah Peretti announced the shutdown Tuesday in a company-wide memo, reported The Daily Beast.

“We are reducing our workforce by approximately 15% today across our Business, Content, Tech and Admin teams, and beginning the process of closing BuzzFeed News,” Peretti wrote to company employees.