Yahoo Inc. plans to furlough more than 20% of its workforce as part of a major restructuring of its ad tech division, Axios reported Thursday, citing company executives.
Half of the company’s ad tech division will be cut
Yahoo Inc. plans to furlough more than 20% of its workforce as part of a major restructuring of its ad tech division, Axios reported Thursday, citing company executives.
The cuts will affect more than 50% of Yahoo’s ad tech workforce, more than 1,600 people, according to the report.
Ad tech is part of a company that competes with Google and Facebook’s parent company, Meta, for digital advertising dollars.
In 2021, Yahoo and AOL were acquired by private equity firm Apollo from telecommunications giant Verizon for $5 billion.
The layoffs are just the latest in a string of layoff announcements in recent months by tech companies large and small.
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