Yahoo plans to let go of more than 2,000 of its 8,600 employees as part of the ongoing tech layoffs.
The tech company has been around for a long time, but it is changing how its advertising department works. Over half of the people who work in that department will be let go by the end of the year.
Yahoo will let go of almost 1,000 tech workers by the end of the week because of its latest round of layoffs.
Yahoo is the most recent tech company to lay off workers. Companies are having a hard time right now because demand has dropped, inflation is high, and interest rates are going up.
Yahoo is owned by Apollo Global Management, a private equity firm which bought it for $5 billion in 2021. The company said the move would help it focus and invest more in its DSP, or demand-side platform, which is its most important ad business.
Advertising changes
The tech layoffs are part of a larger effort by the company to make the advertising unit of Yahoo run more smoothly.
It comes at a time when many advertisers have cut back on their marketing budgets because of record-high inflation and the fact that nobody knows if there will be a recession…Read More
Source: California Gazette
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