Business Insider is an American multinational financial and business news website. Its parent company is Insider Inc., a subsidiary of the German publisher Axel Springer SE, the largest mass media publisher in Europe. Business Insider was founded in 2007, with its headquarters in New York City.
According to recent reports, Business Insider will lay off 8% of its workforce, in a bid to refocus its priorities and efforts towards a profitable future. The report further signals that news outlets are facing a challenging advertising environment and a decline of the traditional business models.
Incognito blog recently reported that the Los Angeles Times plans to lay off 20% of its workforce.
