Yahoo has announced plans to lay off over 20 per cent of its total workforce by the end of 2023
The move is part of a restructuring of its ad tech division and will allow the company to focus and invest in its flagship ad business called DSP (demand-side platform).
Nearly 50 per cent of its ad tech employees will be affected.
This decision has been made due to record-high inflation rates and uncertainty about a recession, as advertisers have reduced their marketing budgets.
Many U.S. companies, including Goldman Sachs and Alphabet, have also made layoffs to cope with the demand downturn.
