April 14, 2024 16:05 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
'What else is Congress doing other than looting?': Kangana Ranaut in Himachal Pradesh | Iran could attack Israel sooner than later, warns US President Joe Biden | Amid unemployment, inflation issues, PM Modi's leadership likely to help his third consecutive term at govt: Survey | AAP to support INDIA bloc 'unconditionally' in UP for Lok Sabha election | Amid threats from Iran, Israel launches massive strike on Gaza
Yahoo to layoff 20 percent staff Yahoo
Pixabay

Yahoo to layoff 20 percent staff

India Blooms News Service | @indiablooms | 10 Feb 2023, 10:09 am

New Delhi: IT major Yahoo has said it will layoff 20 percent of the total workforce  as part of a major restructuring of its ad tech unit, media reports said.

The cuts will impact more than 50 percent of Yahoo's ad tech employees — more than 1,600 people,  executives told Axios.

In an interview, Yahoo CEO Jim Lanzone stressed that the layoffs are not attributable to financial challenges, but rather, strategic changes to the company's Yahoo for Business advertising unit, which is not profitable, reports Axios.

Roughly 1,000 positions will be eliminated Thursday, representing 12% of the total planned cuts at Yahoo. The remaining 8% or more of cuts will occur in the second half of this year.

Lanzone said he couldn't provide the exact number of future cuts, but confirmed that the total number of layoffs would amount to more than 50% of the ad tech unit's current staff, and more than 20% of Yahoo's current staff.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.