BuzzFeed News will shut down, the company announced on Friday. 

BuzzFeed, the liberal website that famously published the Steele dossier in 2017, will cut roughly 15% of its staff and shutter its news operation because of a downward trend in performance combined with a challenging economy. 

"We are reducing our workforce by approximately 15% today across our Business, Content, Tech and Admin teams, and beginning the process of closing BuzzFeed News. Additionally, we are proposing headcount reductions in some international markets," BuzzFeed CEO John Peretti wrote in a memo to staffers obtained by Fox News Digital. 

The company currently has roughly 1,200 employees, meaning roughly 180 jobs will be lost. CRO Edgar Hernandez and COO Christian Baesler are leaving the company, and BuzzFeed President Marcela Martin will take on responsibility for all revenue functions effective immediately. 

"Impacted employees (other than those in BuzzFeed News) will receive an email from HR shortly. If you are receiving this note from me, you are not impacted by today’s changes. For BuzzFeed News, we have begun discussions with the News Guild about these actions," Peretti continued. "The changes the Business Organization is making today are focused on reducing layers in their organization, increasing speed and effectiveness of pitches, streamlining our product mix, doubling down on creators, and beginning to bring AI enhancements to every aspect of our sales process."

A company insider said BuzzFeed is only moving forward with departments that have proven to be profitable, and the news operation simply doesn’t hit that requirement. BuzzFeed and sister company HuffPost are expected to offer roles to several impacted BuzzFeed News journalists. 

HuffPost will be the company’s sole news organization moving forward.

"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. 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," Peretti wrote.

"I want to explain a little more about why we’ve come to these deeply painful decisions. We’ve faced more challenges than I can count in the past few years: a pandemic, a fading SPAC market that yielded less capital, a tech recession, a tough economy, a declining stock market, a decelerating digital advertising market and ongoing audience and platform shifts. Dealing with all of these obstacles at once is part of why we’ve needed to make the difficult decisions to eliminate more jobs and reduce spending," he continued. "But I also want to be clear: I could have managed these changes better as the CEO of this company and our leadership team could have performed better despite these circumstances. Our job is to adapt, change, improve, and perform despite the challenges in the world. We can and will do better." 

This is a developing story, more to come… 

California Governor Gavin Newsom was spotted walking the streets of San Francisco when a local man caught him by surprise by asking what he was doing to solve the opioid epidemic. 

A San Francisco resident identifying himself as "J.J. Smith" shouted out to Newsom, "Hey Gavin, tell me whatcha going to do about the fentanyl epidemic?"

Newsom responded by asking, "What should I do, J.J? You tell me what we need to do. That's why I'm here." The governor's office told a local outlet he was there for a private meeting with cabinet members to discuss "the state’s ongoing efforts to tackle the fentanyl crisis, homelessness, and other critical issues."

The Democrat was ridiculed after Smith shared the exchange on Twitter.

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"Unbelievable, he walks around like he owns the place, because he know[sic] the media will never show him in a bad light," one Twitter user remarked.

San Francisco journalist Meaghan M. Mitchell mocked, "Like bro.. why are you even here if you are just going to dismiss people..." She also laughed at Newsom's "weak" answer.

Another local reporter was flabbergasted by Newsom's response.

"'"You tell me what we need to do' umm sir, you are the governor!" Annie Gaus tweeted with a laughing emoji.

"'I need you to tell me what we need to do' as he walks away with no intention of listening to an actual resident affected by the problem. Nice of him to drop back in CA though, he's been on the road scolding other states for a while now," writer Jared Klickstein remarked.

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"Don't tell me, the answer involved hair gel right?" a Californian who said he was a former Democrat quipped. "Let me guess.. Vote for him for President in 2024 so he can show us what his plan is then?" another Twitter account mocked. 

Michael Shellenberger, who ran against Newsom in the 2022 gubernatorial election called out the governor for fueling the opioid crisis.

"Drug overdoses are skyrocketing because Gov.@GavinNewsom& SF Mayor@LondonBreed refuse to shut down the open air drug markets and mandate drug treatment. Instead, they're letting people repeatedly OD and die on the streets and in homeless hotels. It's grotesque & inhumane," he tweeted.

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Smith revealed that Newsom came back around later and gave a different answer to the question. Newsom reportedly told Smith he was "here" in San Francisco "to work on that [the opioid crisis] now."

That retort was also ripped by critics.

"That's not an answer," one Twitter user reacted. Others gave cynical responses alleging the governor came back just for a "photo op" or to do "damage control."

Smith explained to a Bay Area reporter that he wanted to hold the governor accountable because he was a San Francisco resident and taxpayer.

Newsom previously was the Mayor of San Francisco from 2004 to 2011. Despite facing heavy criticism for his COVID-19 policies as governor, the Democrat was able to defeat a recall attempt in 2021.

Last week Newsom also faced ridicule after an awkward video of the governor visiting New College of Florida made rounds on social media. Newsom has repeatedly taken aim at Florida Governor Ron DeSantis, raising speculation he may run for president in 2024.

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However, Newsom has reportedly promised the White House he is "all in" to support Biden as the Democratic nominee.

Fox News Digital reached out to Newsom's office for comment but has yet to receive a response.