Total workers of Yahoo are 8600, after 20% nearly 2000 workers will be affected as a part of major restructuring.
The experienced technology company is reorganizing its advertising section, which will lose more than half of the department by the end of this year.
Sad news is that approximately 1,000 employees will be affected due to job downsizing by the end of this week.
Yahoo is the latest technology firm going to job losses as firms struggle with a downfall in demand, increasing inflation and rising interest rates.
“The decisions are never so easy, but we believe that the changes will streamline and strengthen our advertising market in the long run, while enables the company to deliver better values to our customers and partners,”
a spokesperson told.
Yahoo, owned by private firm Apollo Global Management since a $5 billion buyout in 2021, explained that this move would enable the company to reduce its focus and investment on its flagship advertising business called DSP, or demand-side platform.
