I worked for a "huge well-known bank" as a data center engineer. Unfortunately, they had converted all the FTE positions to contractor. As a contractor, you had as much job security as a slab of meat. All new contractor hires were given a copy of "Who Moved My Cheese" to read. In 32 years of working, I've never seen a place with a higher turnover rate. It was sad because the job itself was pretty nice, just nothing else about it was.
"(Insert any big corporation here)'s Shadow Work Force: Temps Who Outnumber Full-Time Employees"
With few exceptions, you'll do the same job as a FTE but for 40% to 60% less salary, garbage benefits and zero job security. Most "staffing" companies are little more than parasites.
Back in the 80's I "rescued" most of a PDP 8 from an abandoned building. Duffel bags full of flip chips... Unfortunately it was in poor condition and being a young teenager, I had no idea what to do with it.
Why not? Shenzhen was once a backwater no-where-land, now it's a major city and China's answer to Silicon Valley. No reason why they can't replicate it over and over.
These laid off BuzzFeed staffers should get together and form their own news parody site, similar to The Onion. BuzzFeed is already well experienced with passing off satire as "news" so it should be a slam dunk.