According to a report from Axios, Yahoo Inc is embarking on a major restructuring of its ad tech unit, which will result in layoffs for more than 20% of its total workforce.
This equates to a significant impact on more than 50% of Yahoo's ad tech employees, potentially affecting over 1,600 people.
Yahoo's ad tech unit is responsible for competing with digital advertising powerhouses such as Google and Facebook's parent company, Meta.
In 2021, Yahoo and AOL were acquired by private equity firm Apollo for $5 billion US, following their purchase from telecom giant Verizon.
These layoffs are part of a wider trend in the technology industry, with a number of companies, both large and small, announcing cuts in recent months.
