On Thursday, Yahoo announced that as part of a major restructuring of its ad tech group, it planned to lay off more than 20% of its total workforce.
Yahoo said that before the end of the year, roughly half of its ad tech workforce, or about 1,000 people, will be affected by layoffs.
With this change, Yahoo, which has been owned by private equity firm Apollo Global Management since a $5 billion takeover in 2021, will be able to concentrate on its most successful advertising division, the DSP (demand-side platform).
This comes at a time when many companies have reduced their marketing budgets in anticipation of a possible economic downturn and in light of recent record inflation.
