BuzzFeed News is shutting down, the company’s chief executive, Jonah Peretti, said Thursday in a memo to employees.

Peretti said in the memo, shared with POLITICO, that the move is part of a 15 percent reduction in BuzzFeed’s workforce — about 180 staffers.

“While layoffs are occurring across nearly every division, we’ve determined that the company can no longer continue to fund BuzzFeed News as a standalone organization,” Peretti said. “As a result, we will engage with the News Guild about our cost reduction plans and what this will mean for the affected union members.”

BuzzFeed is consolidating its news operations within HuffPost, and BuzzFeed and HuffPost will offer roles to some BuzzFeed News staffers.

“HuffPost and BuzzFeed Dot Com have signaled that they will open a number of select roles for members of BuzzFeed News,” Peretti said. “These roles will be aligned with those divisions’ business goals and match the skills and strengths of many of BuzzFeed News’s editors and reporters. We raised this idea with the News Guild this morning and look forward to discussing it further. Moving forward, we will have a single news brand in HuffPost, which is profitable, with a loyal direct front page audience.”

Chief Revenue Officer Edgar Hernandez and Chief Operating Officer Christian Baesler will leave as part of the company changes, Peretti said. Marcela Martin, president, would “take on responsibility for all revenue functions effective immediately.”

BuzzFeed News launched in 2011. In 2021, BuzzFeed News won a Pulitzer Prize and was also named a Pulitzer finalist.

“I’ve learned from these mistakes, and the team moving forward has learned from them as well,” Peretti wrote. “We know that the changes and improvements we are making today are necessary steps to building a better future.”