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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.
