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Decision/ Yahoo plans to lay off 20% of its employees

2023-02-09 21:18:34Kosova&Bota SHKRUAR NGA REDAKSIA VOX

Decision/ Yahoo plans to lay off 20% of its employees

Yahoo plans to lay off more than 20% of its workforce as it moves forward with a major restructuring of its ad tech sector, according to the website Axios.

The cuts will affect almost 50% of the employees in this department, i.e. more than 1600 people.

The move means Yahoo will end its years-long effort to compete with Google and Meta in the digital advertising space.

Yahoo CEO Jim Lanzone, in an interview he gave, said that the layoffs are not because of the financial challenges the company is facing, but because of the strategic changes it wants to bring to Yahoo's advertising division for Business, which is not profitable.

The changes will be "extremely beneficial to Yahoo's overall profitability" and allow the company to invest more in other profitable divisions. Yahoo is generally profitable, with annual revenue of about $8 billion.


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