Business Insider

Business Insider, the digital media company owned by Axel Springer, laid off 21% of its staff on Thursday. The restructuring, which affects every department, is a response to significant declines in online traffic, which historically accounted for about 70% of its business. CEO Barbara Peng stated the move is a tough but necessary decision to transform the publisher for a future media landscape reshaped by artificial intelligence and fewer readers, aiming to build a more sustainable model. The exact number of employees impacted was not disclosed.

Business Insider representing approximately 8% of its workforce on 2024-01-25.