Buzz Media cuts 20% of workforce

Celebrity blogging company Buzz Media has cut 20% of its workforce.

The cuts amount to around 15 employees, leaving a total of 75, and come only weeks after the company (previously known as Buzznet) raised a round of $12.5 million.

PaidContent reports that the company is winding back plans to launch new properties given the broader economic climate. The cuts affected product developers, engineers, design and editorial, but not the sales team. The company said it was still on track to be profitable by the end of 2009.