Yahoo is laying off more than 20 of its employees
Software

Yahoo is laying off more than 20% of its employees

Yahoo announced last night that it intends to cut 20% of its workforce. The company was forced to take this step as part of a large-scale restructuring of its advertising technology division.

    Image source: yahooinc.com

Image source: yahooinc.com

By the end of this year, the layoff program will affect nearly 50% of Yahoo’s ad engineers, including nearly a thousand employees who will lose their jobs this week, the company said. Yahoo, which was acquired by investment firm Apollo Global Management for $5 billion in 2021, added that the change in personnel will help the company focus on and increase investment in its flagship advertising platform.

The move seems timely, as rising inflation and uncertainty about a possible recession have caused many advertisers to cut marketing budgets. Many tech companies have already announced cuts in recent months: Google plans to cut 12,000 employees, Microsoft announced 10,000 job cuts, Amazon will cut staff by 18,000 jobs and Meta was the first of the tech giants to resort to it to this measure.* – Already in November last year, she announced her intention to lay off 11,000 people.

* It is included in the list of public associations and religious organizations for which the court made a final decision, activities on the grounds of Federal Law No. 114-FZ of July 25, 2002 “On Combating Extremist Activity”.

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Robbie Elmers

Robbie Elmers is a staff writer for Tech News Space, covering software, applications and services.

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