Yahoo Inc. will eliminate about 1,000 jobs beginning this week, the first round of cuts in a larger plan to restructure its advertising tech division amid a wave of layoffs in the industry.
The company, owned by Apollo Global Management Inc., plans to reduce headcount at its Yahoo for Business ad tech unit by almost 50% by the end of 2023, or more than 20% of the total workforce at Yahoo, a company spokesperson said. “Despite many years of effort and investment, this strategy was not profitable and struggled to live up to our high standards,” the spokesperson said. ...
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