Business Insider Lays Off 21%, Exits Commerce

Business Insider is laying off about 21% of its staff across all departments in its third major round of layoffs in three years, as it responds to shrinking web traffic and the rapid adoption of generative AI tools like ChatGPT. CEO Barbara Peng cited instability in digital media distribution, increased competition, and the need to withstand sharp traffic declines, noting that 70% of the company's business is traffic-sensitive. The company will exit most of its commerce business, scale back underperforming categories, and focus on areas with higher reader engagement. It is also accelerating AI adoption with tools like Enterprise ChatGPT, AI site search, and the introduction of paywalls. Business Insider is launching BI Live, a new live events division, as part of its strategic shift. The union has criticized the layoffs as prioritizing profit over journalism, and other Axel Springer-owned outlets like Politico and Morning Brew are reportedly not affected.