October 02, 2023 02:58 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Jammu and Kashmir: CRPF jawan mysteriously dies of bullet injury in Kot Bhalwal jail | Avinash Sable wins first-ever Gold for India in 3000m steeplechase; breaks Games record | NIA arrests terrorist plotting to use Manipur ethnic unrest against India | Amid Delhi-Ottawa row, Indian diplomat stopped from entering UK Gurdwara by Khalistani extremists | Asian Games: Abhay wins gold for India by beating Pakistan in gripping squash final
Yahoo to layoff 20 percent staff Yahoo

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.