Insider to let go 10% workforce

Image Credits - Insider inc

Insider Incorporated president Barbara Peng announced that layoffs in an email to staff this morning that was obtained by Gizmodo and first reported by The Daily Beast. Peng wrote that staff members affected by the layoffs would be receiving a notification 15 minutes after her email to the company was sent. Affected staff will receive 13 weeks of base pay with two additional weeks for each year they worked up to four years, medical coverage through August 2023, and career support services including resume reviews and one-one-ones with coaches.

“As you know, our industry has been under significant pressure for more than a year. The economic headwinds that have hurt many of our clients and partners are also affecting us,” said Peng. “Unfortunately to keep our company healthy and competitive, we need to reduce the size of our team. We have tried hard to avoid taking this step, and we are sorry about the impact it will have on many of you.”

Peng explained in her email that the layoffs would impact the unionized workforce at the outlet, meaning writers would be included in the cuts. Insider’s presidet claimed in her email that management was unable to communicate the layoffs to the union, citing unspecified “union rules.” An Insider employee in the union told Gizmodo that the union was not informed of the layoffs ahead of time and received no opportunity to bargain with management. The Insider Union did not immediately return Gizmodo’s request for comment.

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