The restructuring comes amid broader industry challenges and coincides with the cancellation of USAID funding for Politico, another Axel Springer outlet. BI's CEO, Barbara Peng, emphasized the company's commitment to AI, with over 70% of employees using ChatGPT tools. The changes aim to enhance operational efficiency and resilience to digital traffic volatility. Elon Musk has previously criticized Business Insider, questioning its legitimacy as a publication.
Key takeaways:
- Business Insider is laying off 21% of its staff as part of a transformation strategy to create a leaner, AI-driven newsroom.
- The restructuring includes a focus on business, tech, and innovation journalism, while underperforming content areas are being cut.
- BI is reducing its dependency on web traffic by downsizing its commerce division and investing in live journalism events like BI Live.
- Over 70% of Business Insider employees are using Enterprise ChatGPT, with plans to increase AI integration across operations.