FILE PHOTO: Barbara Peng, CEO of Business Insider, speaks during the Reuters NEXT conference, in New York City, U.S., December 10, 2024. REUTERS/Mike Segar/File Photo
(Reuters) -Business Insider is laying off about 21% of its workforce, an internal memo showed on Thursday, as the financial news outlet grapples with shrinking search traffic and the growing use of generative AI tools such as ChatGPT.
The New York-based company joins several digital media companies in restructuring operations as consumers increasingly depend on artificial intelligence for news synopsis, which is eating into web traffic.
