BuzzFeed | CEO cuts his own salary to avoid staff layoffs

CEO of the media company BuzzFeed, Jonah Peretti, said in an internal company memo that he would not take a salary until the COVID-19 pandemic blows over.

He wrote in the memo circulated to employees: “I will not be taking a salary until we are on the other side of this crisis.”

Additionally, The Daily Beast revealed that BuzzFeed will cut the pay for its employees as the firm attempts to come to terms with the impact of the coronavirus outbreak.

The memo, which was shared with staff earlier this week, announced a graduated salary reduction for the majority of employees for the months of April and May.