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Yahoo Inc. plans to cut more than 20 percent of its total workforce as part of a major restructuring of its ad technology unit, Axios reported on Thursday, citing company executives.
Half of the company’s ad tech department will be cut
Yahoo Inc. plans to cut more than 20 percent of its total workforce as part of a major restructuring of its ad technology unit, Axios reported on Thursday, citing company executives.
The cuts will affect more than 50 percent of Yahoo’s ad tech workforce, more than 1,600 people, according to the report.
The ad tech is part of a company that competes with Meta parent Google and Facebook for digital advertising dollars.
In 2021, Yahoo and AOL were bought from telecom giant Verizon by private equity firm Apollo for US$5 billion.
The cuts are just the latest in a string of layoff announcements by tech companies large and small in recent months.
More to come
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