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Business Insider Cuts 21% of Workforce in AI-Driven Overhaul

CEO Barbara Peng says the overhaul will sharpen authoritative reporting through AI-driven systems supported by a new live events model.

Overview

  • The organization will reduce headcount by about 21%, impacting every department and following an 8% cut in January 2024.
  • Peng announced that most of the commerce business will be discontinued, retaining only a few high-performing verticals to shift focus toward sustainable revenue streams.
  • About 70% of employees already use Enterprise ChatGPT, and the company aims for full adoption to power gen-AI search, an AI-driven paywall, and other automated tools.
  • BI Live, a new events platform intended to highlight Business Insider’s journalism and deepen reader engagement, will launch as part of the restructure.
  • The Insider Union and The NewsGuild of New York condemned the wave of layoffs as a profit-driven retreat from journalism, while Axel Springer says its U.S. outlets Politico and Morning Brew will not face similar cuts.