MARCH 24, 2024 — 1,600+ LAYOFFS
The company has announced plans to lay off more than 20% of its total workforce as part of a major restructuring of its advertising technology unit. The reduction in force will impact more than 50% of Yahoo's advertising technology employees — more than 1,600 people.
According to a company spokesperson, “These decisions are never easy, but we believe these changes will simplify and strengthen our advertising business for the long run while enabling Yahoo to deliver better value to our customers and partners.
Yahoo’s previous strategy in the ads business was to offer a “unified stack” consisting of a demand-side platform (DSP), supply-side platform (SSP), and native advertising platforms. However, “Despite many years of effort and investment, this strategy was not profitable and struggled to live up to our high standards across the entire stack,” and as such, it will shut down the SSP side of the business.
CEO Jim Lanzone noted that the sunsetting of an older business model would be “tremendously beneficial for the profitability of Yahoo overall.”
FEBRUARY 24, 2023 — Original post…
Sunnyvale, California-based Yahoo!, the iconic web services provider, has announced a major reduction in force.
The job action will impact 1600 employees or 20% of the workforce.
Yahoo CEO Jim Lanzone noted, "that these layoffs are not a result of economic issues, but rather, they are intentional changes to strengthen the unprofitable Yahoo for Business advertising unit."
“These changes announced today are entirely within the context of creating a better business plan for that division going forward. The company has taken many bites of the apple here in trying to make it work over the years, but as a standalone company, we had to take a very honest view of how we apply our resources. The company is “very profitable. We would’ve made these changes even at the peak of the market.”
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?