Business Insider Announces Second Round of Layoffs in Less Than a Year

The company is laying off 8% of its staff amid a wave of job cuts in the media industry, with affected employees to receive a minimum of 13 weeks of pay and medical coverage through May.

Business Insider is laying off 8% of its staff as part of a restructuring plan, marking the second round of cuts in less than a year.
The layoffs are part of a broader trend in the media industry, with recent layoffs also reported at the Los Angeles Times Sports Illustrated, and Time magazine.
Business Insider CEO Barbara Peng stated the company is refocusing teams and investing in areas that drive more value for the website’s audience.
Affected employees will receive a minimum of 13 weeks of pay and medical coverage through May.
The move follows a dispute with billionaire hedge fund manager Bill Ackman over an article alleging his wife's academic plagiarism.