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Yahoo Laying Off 20% Of Workforce In Ad Tech Pullback

reports google CEO Platform Strategy Enterprise

10.02.2023 - 01:13

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deadline.com

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Yahoo is significantly scaling back its investments in advertising technology and will lay off about 1,600 employees, or 20% of its workforce, as part of the shift in strategy.

One of the original tech names, the company is now 90% owned by private equity firm Apollo Global Management, which acquired it from Verizon in 2021.

About half of the company’s Yahoo for Business unit, which had scaled up efforts in ad tech, will be cut. About 1,000 of the layoffs will take effect by the end of this week, with the remainder due by year-end.

In a statement to Deadline, a Yahoo spokesperson said that for the past several years, “the strategy of our ads business was to compete in the ad tech industry by offering a ‘unified stack’ consisting of our Demand Side Platform, Supply Side Platform and Native platforms.

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