PayPal Holdings Inc. Chief Executive Dan Schulman said he would retire from the company at the end of 2023, ending a nine-year run atop the payments giant. PayPal’s board hasn’t yet chosen a successor. Mr. Schulman said he would help with the leadership transition and remain on the board. Read More...
Reuters
Yahoo to lay off more than 20% of staff
The cuts will impact nearly 50% of Yahoo’s ad tech employees by the end of this year, including nearly 1,000 employees this week, the company said. Yahoo, which is owned by private equity firm Apollo Global Management since a $5 billion buyout in 2021, added that the move would enable the company to narrow its focus and investment on its flagship ad business called DSP, or demand-side platform. This comes as many advertisers have pared back their marketing budgets in response to record-high inflation rates and continued uncertainty about a recession.
