Yahoo Announces Massive Layoffs Over 20% of Staff to Lose Jobs

1. Yahoo to lay off more than 20% of its workforce.

2. This is considered as part of restructuring of ad tech division. 

3. Nearly 50% of ad tech employees will be impacted.

4. Which also include nearly 1,000 employees this week.

5. The layoffs will enable the company to narrow its focus and investment on its flagship.

6. Advertisers have pared back their marketing budgets.

7. Due to record-high inflation rates and recession uncertainty.

8. Many U.S. companies, including Goldman Sachs and Alphabet, have laid off thousands this year.

9. Due to demand downturn caused by high inflation and rising interest rates.

10. Yahoo is owned by private equity firm Apollo Global Management since a $5 billion buyout in 2021.

11. There are many layoffs seen in Amazon, Microsoft, and Dell.