Yahoo has laid off 1,000 workers, or about 12% of its remaining staff, in a move aimed at restructuring the company’s advertising technology business unit and reallocating its finances more efficiently.
The layoffs, enacted Thursday, mark the end of Yahoo’s attempts to be a direct competitor to Google and Meta in the digital advertising market, according to a report from Axios, which was the first outlet to publicize the job cuts.
A further 600 employees will be let go in the second half of the year, bringing the total to about 20% of Yahoo’s total staff. The layoffs represent a downsizing of roughly 50% of the company’s ad tech division, Axios reported.
