Over 20% of Yahoo's 8,600 employees will be let go as part of a significant restructure.
The seasoned IT giant is restructuring its advertising division, which will lose more than half of its staff by year's end.
By the end of the week, the layoffs will have a significant impact on close to 1,000 employees.
The latest major company to announce job cuts is Yahoo as businesses battle a decline in demand, soaring inflation, and increasing interest rates.
“These decisions are never easy, but we believe these changes will simplify and strengthen our advertising business for the long run, while enabling Yahoo to deliver better value to our customers and partners,” a spokesperson told the BBC.
Yahoo, which has been owned by private equity firm Apollo Global Management since a $5bn buyout in 2021, added that the move would enable the company to narrow its focus and investment on its flagship ad business called DSP, or demand-side platform.
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