Yahoo said on Thursday that as part of a significant restructuring of its ad tech division, it plans to let go of more than 20% of its employees. Yahoo Lay Off
The company announced that they would lay off nearly half of Yahoo’s ad tech employees, including about 1,000 people this week, by the end of the year. Yahoo Lay Off
Private equity firm Apollo Global Management bought Yahoo for $5 billion in 2021 and now owns it. The company said that the move would help it focus and invest more in its DSP, or demand-side platform, ad business, which is its primary business.
This happens when many advertisers have cut their marketing budgets in response to record-high inflation rates and continued uncertainty about whether or not there will be a recession.
This year, many U.S. companies, such as Goldman Sachs Group Inc. and Alphabet Inc., have laid off thousands of workers due to a drop in demand caused by high inflation and rising interest rates.
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