STATEMENT from Insider Union, The NewsGuild of New York about layoffs announced Thursday

We were notified that Business Insider management intends to lay off about 20 percent of our members as part of their ongoing “strategy” to “build toward something new.”

Let’s be clear: This is far from anything new. This is the third round of layoffs in as many years and it is unacceptable that union members and other talented coworkers are again paying the price for the strategic failures of Business Insider’s leadership. 

Axel Springer is a multi-billion dollar firm whose digital outlets and media businesses generate the majority of its revenue. The layoffs of our talented co-workers and union members is another example of Axel Springer’s brazen pivot away from journalism toward greed.  

Shockingly, in the same email announcing the layoffs, management also says its “going all-in on AI,” patting themselves on the back about AI use in our newsroom. To say this was tone-deaf to include in an email on layoffs would be an understatement. 

Our position as a union is that no AI tool or technology should – or can – take the place of human beings. 

There is no Business Insider - or Axel Springer, for that matter - without us. Each time we’ve faced layoffs as a union, we’ve come together and fought for voluntary buyouts and a better deal. We will continue that fight now.

We expect Business Insider management to follow the layoff procedures outlined in our contract and treat our members with the respect they deserve.