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Yahoo To Let Go 20% Employees, Focus On Its Flagship Ad Business

Anusuya Lahiri
·1 分鐘文章

  • Apollo Global Management, Inc's (NYSE: APO) Yahoo weighed downsizing over 20% of its total workforce as part of its ad tech division overhaul.

  • The cuts will impact nearly 50% of Yahoo's ad tech employees by the end of this year, including about 1,000 employees this week, Reuters reports.

  • Yahoo aimed to narrow its focus and investment on its flagship ad business, called the demand-side platform.

  • Yahoo's move coincided with advertisers paring back their marketing budgets following record-high inflation rates and macro uncertainties.

  • U.S. companies, ranging from Goldman Sachs Group Inc (NYSE: GS) to Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) Google downsized in thousands to beat the double whammy.

  • Price Action: APO shares are up by 2.03% at $69.79 premarket on the last check Friday.

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This article Yahoo To Let Go 20% Employees, Focus On Its Flagship Ad Business originally appeared on Benzinga.com

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