Yahoo layoff news: One of the most frequent news since the beginning of this year is layoffs by companies. Every day, some or the other company is laying off people from their jobs. Yahoo said it plans to lay off more than 20 percent of its total workforce as it aims to restructure its ad-tech division. The company said this round of layoffs will affect about half of its ad-tech division’s workforce by the end of the year, including about 1,000 employees laid off this week. That is, 1000 people are being laid off now, their number may increase even more.
There has been a change in the direction of the company.
Yahoo said the move would help the company reduce its focus and investment in DSPs, or demand-side platforms, its core advertising business. The company is owned by private equity firm Apollo Global Management after it plans to buy Yahoo in a $5 billion buyout in 2021. Record inflation and recession concerns have caused many advertisers to cut their marketing budgets, which has led to layoffs. Yahoo has become the latest in a long line of companies to lay off thousands of employees this year, joining the likes of Amazon and Google. The company said 12 percent of the planned job cuts will take place in this round, while the remaining 8 percent or more will take place in the second half of the year.
Let me tell you, the entertainment giant Disney also announced the removal of employees from their jobs on Wednesday. The company’s CEO, Bob Iger, said he did not take this decision lightly. I have great respect and admiration for the talent and dedication of our employees around the world. It is laying off 7,000 employees at once for the first time.
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