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Business Insider Lays Off 21% of Staff

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"There's a huge opportunity for companies who harness AI first," CEO Barbara Peng says in a memo to staff.
Business Insider is set to lay off approximately 8% of its staff, totaling around 70 employees, as part of a broader restructuring effort by its parent company, Axel Springer. The layoffs are aimed at enhancing the company's focus on digital transformation and artificial intelligence (AI) to improve efficiency and content delivery. This move comes in response to the rapidly evolving media landscape and the need to adapt to new technologies and consumer behaviors. The decision has sparked concerns among employees about job security and the future direction of the company, with many questioning the impact of AI on traditional journalism roles.

Read the Full TheWrap Article at:
[ https://www.thewrap.com/business-insider-layoffs-21-percent-of-staff-ai/ ]