BuzzFeed has undergone another round of layoffs as a softening digital ad market hits the company’s already struggling revenues.

Announced in a memo to staff Tuesday afternoon, CEO Jonah Peretti said roughly 12% of the company’s current workforce would be impacted.

The cuts are primarily in the ad sales, technology and studio production divisions at both BuzzFeed and Complex Networks, where the company has seen some duplication of duties. However, some now-former BuzzFeed writers also posted on social media that they had also been impacted.

A company spokesperson told MiC that one staff had been laid off in Canada. Currently, BuzzFeed Canada has “over 20” staff.

Peretti said in the memo that BuzzFeed’s revenues have been impacted by worsening macroeconomic conditions, which have also been a drag on ad revenue at other digital and traditional media companies through the second half of 2022. He also cited audience shifts to vertical video, which he said is “still developing from a monetization standpoint.”

Both the BuzzFeed News and HuffPost divisions have undergone big rounds of layoffs in the last two years. Most recently, the company laid off 1.7% of its workforce in March, primarily on its BuzzFeed Video and Complex Networks teams, four months after an IPO that has failed to perform as the company had hoped.

Going forward, Peretti said the company would be investing in areas with growth potential and “shifting away from areas with less audience engagement.” He added that BuzzFeed would be investing in “a more robust creator business.”

Photo by Matt Haughey.