Yahoo said Thursday that it plans to lay off more than 20% of its total workforce as part of a major restructuring of its ad technology division.
The company said the cuts would affect about 50% of Yahoo’s ad tech staff through the end of this year, comprising about 1,000 employees.
Yahoo, which has been owned by private equity firm Apollo Global Management since its $5 billion buyout in 2021, said the move would allow the company to reduce its focus and investment in DSP, or demand-side platforms, its core advertising business. Will be able
It comes as many advertisers have slashed their marketing budgets in response to record-high inflation rates and uncertainty about the recession.
US companies from Goldman Sachs Group Inc to Alphabet Inc have also laid off thousands of people this year to address a slump in demand caused by high inflation and rising interest rates.
Axios first reported the layoffs at Yahoo.
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