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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 firing 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, 1,000 people are being fired now, its number may increase further.
There has been a change in the management of the company
Yahoo said the move would help the company reduce its focus and investment on DSP, 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 concerns about the recession have caused many advertisers to cut their marketing budgets, leading 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 its job on Wednesday. Company CEO Bob Iger said that I do not take this decision lightly. I have great respect and admiration for the talent and dedication of our employees around the world. He is laying off 7,000 employees at once for the first time.
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