BuzzFeed Slashing Employee Pay Amid the Coronavirus Crisis

BuzzFeed is cutting pay for its employees as the company attempts to weather the coronavirus pandemic.

In an internal memo on Wednesday, the company announced a graduated salary reduction for the majority of employees for the months of April and May, adding that company brass would meet with the news union to ratify the cuts.

Staffers in the lowest bracket—which includes anyone making under $65,000 annually—would experience a five-percent reduction, while those making between $65,000-$90,000 would experience a seven-percent cut. Other staff would take nearly a 10-percent pay cut, while executives would take between 14-to-25-percent in pay reduction.

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