BuzzFeed shutters news operation, will cut about 180 employees

Once a growing online source of news and information, BuzzFeed has stalled in recent months

Despite numerous job cuts, the company has been unable to sustain a profit.

BuzzFeed is shutting down its news operation as part of a retrenchment that will result in pink slips for about 180 employees.

Both Chief Operating Officer Christian Baesler and Chief Revenue Officer Edgar Hernandez are leaving as part of the cutbacks, Chief Executive Officer Jonah Peretti said Thursday in a memo to staff.