Media firm with base in Belfast to slash more than fifth of its global workforce

The announcement of the job cuts was made by Barbara Peng, chief of Business Insider's parent company.
She added: 'We're also proposing changes that impact our UK team, but the process is a bit different there; separate communication will follow.
'We are reducing the size of our organisation, a move that will impact about 21% of our colleagues and touch every department.
'This will be a difficult day, and our first priority is to provide clarity and support to those colleagues whose roles are being eliminated.'
Ms Peng said only those employees impacted would receive an email that included details for a meeting with the 'people and culture team', who would talk them through next steps and answer any questions.
She added that the media industry 'is at a crossroads'.
She said: 'Business models are under pressure, distribution is unstable, and competition for attention is fiercer than ever.
'At the same time, there's a huge opportunity for companies who harness AI first.
'Our strategy is strong, but we don't have the luxury of time.
'The pace of change combined with the opportunity ahead demands bold, focused action — and it's our chance to lead the pack.'
Gordon Lyons visited Insider Inc's New York headquarters in 2022 in his role as Economy Minister to announce the new Belfast base.
At the time it employed more than 1,000 people, with 10 global editions in six languages.
He said then: 'Insider is expanding its engineering resource and is now establishing a technology and product hub in Northern Ireland, with plans to initially recruit 50 roles by the end of June 2024.
'The roles will include data engineering, project management and IT support.
'This was a highly mobile project with a number of locations in the running.
'As part of Invest NI's engagement with the company to help win this project, I first met the senior team in March.
'I am delighted to be back with the team to make this announcement.
'Invest NI has done a great job helping to secure this project, the new jobs and over £2m investment in our local economy through annual salaries.'
Henry Blodget, co-founder of Insider Inc, added: 'Our team there will be focused on improving our data products, subscription services, content syndication and testing automation processes — all of which are so important to our business.'

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