Yahoo is letting go of 20% of staff, nearly 50% from ads team

Yahoo is letting go of 20% of staff, nearly 50% from ads team.

Yahoo, which is owned by private equity firm Apollo Global Management since a $5 billion buyout in 2021, added that the move would enable the company to narrow its focus and investment on its flagship ad business called DSP, or demand-side platform.

Recently, numerous tech companies have performed layoffs.

Among them, Amazon said it would lay off more than 17,000 employees, per WSJ.

This is the highest ever reduction at Amazon.

Back in November, it was stated that they would start with corporate cuts, then moving to Alexa. Initially, the WSJ stated that there would be 10,000 cuts.
The additional amount is for a total of 17,000.

The exact timeline remains to be see.

In September, WSJ reports that Amazon employed 1.5 million people.

Currently Amazon more than halfed in stock value in 2022.

Read more details: https://unusualwhales.com/news/amazon-to-lay-off-more-than-17-000-workers