The American web services company Yahoo plans to lay off more than 20% of its workforce by the end of the current year as part of a restructuring of its advertising technology unit.
Yahoo CEO Jim Lanzone stressed that layoffs are not the result of financial difficulties, but rather strategic changes to the advertising unit, which has not been profitable.
Layoffs will affect more than 1,600 employees, or more than half of this unit. Mr. Lanzone felt that the changes made would be “extremely beneficial for Yahoo’s profitability”, allowing it to invest more in other more profitable products.
Yahoo’s announcement comes at a time when many technology companies have made layoffs due to financial difficulties, including Amazon, Meta and Twitter.
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