The corporate media industrial complex—effectively serving as PR arms for major corporations, governments, NGOs, and billionaires—has endured a brutal decade of structural decline. Trust in legacy media has collapsed to historic lows, while audience fragmentation continues to accelerate. Despite already aggressive consolidation, the world of journalism remains locked in a prolonged contraction with no clear bottom in sight. In contrast, alternative media outlets, X platform, and podcasters are gaining tremendous market share, driven by a growing demand for decentralized, unfiltered journalism grounded in authenticity and transparency.
Axios reported the latest wave of media layoffs Thursday morning—this time at Business Insider. Sara Fischer shared an internal memo from BI CEO Barbara Peng, announcing cuts that will affect approximately 21% of the staff across all departments. The layoffs are part of a broader transformation strategy aimed at building a leaner, more focused, and AI-driven newsroom.
“As we shared during our April All-Hands, we are going all-in on AI — and we’re off to a strong start,” Fischer told stafff, adding, “Over 70% of Business Insider employees are already using Enterprise ChatGPT regularly (our goal is 100%), and we’re building prompt libraries and sharing everyday use cases that help us work faster, smarter, and better.”
Peng’s key points for the restructuring:
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Sharpening Editorial Focus: BI is aligning coverage around business, tech, and innovation journalism that delivers lasting value and drives loyal readership. Underperforming content areas are being cut.
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Reducing Traffic Sensitivity: With 70% of BI’s business still dependent on web traffic, the company is downsizing to become more resilient to volatile digital traffic trends. The Commerce division is being mostly shut down.
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Doubling Down on AI: BI is going “all-in” on AI, citing over 70% employee adoption of ChatGPT tools. They’re launching AI-powered products like an onsite search engine and AI paywall, while optimizing operations using automation.
What are the immediate changes?
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Layoffs are effective immediately, with impacted employees receiving communication from HR.
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Changes also affect the UK team (with a separate process).
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New ventures like BI Live (live journalism events) are launching as part of the pivot.
News: @BusinessInsider is laying off 21% of staff, according to a staff memo from CEO Barbara Peng.
— The company is reducing traffic-sensitive businesses (commerce) and instead will be investing more in events (BI Live). pic.twitter.com/AcDA2i2WWr— Sara Fischer (@sarafischer) May 29, 2025
German media conglomerate Axel Springer SE owns BI. It acquired a majority stake in 2015 for $343 million and increased its holdings in 2018 to bring ownership to a complete 100%.
Axel Springer’s portfolio includes other outlets such as Politico, Bild, Die Welt, and other media brands.
The timing of the BI’s restructuring is very suspicious, given that the DOGE team has canceled Politico’s USAID funding.
JUST IN: 🇺🇸 White House confirms USAID funded Politico with over $8,000,000 in US taxpayer dollars.
“The DOGE team is working on canceling those payments now.” pic.twitter.com/iiMhJ3SEdQ
— Watcher.Guru (@WatcherGuru) February 5, 2025
Elon Musk has previously stated, “I don’t think Business Insider is a real publication.”
ELON: “I don’t think Business Insider is a real publication, so let’s move on to the next question.” 😂 pic.twitter.com/bTi7viNoSU
— Autism Capital 🧩 (@AutismCapital) May 23, 2024
Remember BI’s hit piece on Dave Portnoy’s “rough sex” …
Tyler Durden
Thu, 05/29/2025 – 16:40
