At the time of its acquisition, then-Yahoo CEO Guru Gowrappan said life under Apollo would be “a new era” for the company. Gowrappan moved into a senior adviser role following the business deal, and Yahoo named former Tinder chief executive Jim Lanzone as its new CEO. In an interview published by Axios on February 9, Lanzone revealed that Yahoo will lay off more than half of the employees working under its current ad tech business, which amounts to more than 1,600 people or around 20% of the company’s overall workforce. The reason is purely strategic in nature as Yahoo moves on from its idea of competing with heavyweights like Google in the world of advertising.
This will be a two-part layoff; most of the employees lost their jobs on February 9, but the remaining 8% or so are slated to learn of their fate at some point in the second half of 2023. Yahoo plans to transition to Taboola in place of its own ad platform Gemini, which is also on the chopping block. Axios reports that Yahoo is doing away with its supply-side ad platform and will instead focus on its demand-side platform, which will henceforth be known simply as Yahoo Advertising. Based on the interview, it seems that Yahoo ultimately plans to set its focus — for now, at least — on its own properties like Yahoo News, as well as striking advertising deals with big Fortune 500 companies.
For all the latest Gaming News Click Here
For the latest news and updates, follow us on Google News.
