Over 20% of yahoo Inc.'s workers will be laid off as a result of a massive restructure of its ad tech division, according to a report from Axios. Over 1,600 workers could be adversely affected by this, which corresponds to a severe impact on more than 50% of Yahoo's ad tech staff. Yahoo's ad tech division is in charge of taking on giants in wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital advertising like google and Facebook's parent company, Meta. After being purchased by telecom behemoth Verizon in 2021, yahoo and AOL were acquired by private equity firm Apollo for $5 billion US.
These layoffs are a part of a larger trend in the IT sector, with both big and small businesses declaring layoffs recently. According to media sources, internet giant yahoo has chosen to eliminate 20% of its whole employees as part of restructuring at its ad tech sector. Yahoo's news of job cuts follows Disney CEO Bob Iger's announcement of approximately 7,000 job cuts. By the end of the year, the reductions will affect over 50% of Yahoo's ad tech staff, including nearly 1,000 employees this week, according to a company statement cited by news agency Reuters.
These layoffs are a part of a larger trend in the IT sector, with both big and small businesses declaring layoffs recently. According to media sources, internet giant yahoo has chosen to eliminate 20% of its whole employees as part of restructuring at its ad tech sector. Yahoo's news of job cuts follows Disney CEO Bob Iger's announcement of approximately 7,000 job cuts. By the end of the year, the reductions will affect over 50% of Yahoo's ad tech staff, including nearly 1,000 employees this week, according to a company statement cited by news agency Reuters.
