Business Insider Trims 8% of Staff Amid Wave of Media Cuts (1)

Business Insider is laying off 8% of its staff amid a broader restructuring, the latest news organization to cut employees during a particularly turbulent stretch for the media industry.

Chief Executive Officer Barbara Peng announced the changes in a memo to staff on Thursday, saying the company was refocusing teams and investing in areas that drive more value for the website’s audience.

“Unfortunately, this also means we need to scale back in some areas of our organization,” she said.

It’s the second round of cuts at Business Insider in less than a year. The site has been owned by Axel ...