The layoffs are part of a broader strategy to enhance Business Insider's focus on delivering high-quality business, tech, and innovation journalism. Peng highlighted the progress made in increasing original reporting and engagement. She noted the challenges facing the media industry, including unstable distribution and intense competition for attention, but expressed confidence in the company's strategy and the potential for AI to provide a competitive edge.
Key takeaways:
- Business Insider laid off around 21% of its staff, impacting every department, as part of a strategic shift.
- The company plans to launch events coverage, embrace AI, and reduce reliance on traffic-sensitive businesses.
- Business Insider has doubled its original reporting and increased engagement, focusing on authoritative journalism.
- The media industry faces challenges with business models and distribution, but AI presents significant opportunities.