Yahoo To Lay Off More Than 20% Of Its Workforce

Yahoo is the newest entrant to the list of companies that have announced layoffs this year. On Thursday, February 9, 2023, Yahoo notified its employees that it plans to lay off more than 20% of the company’s workforce as part of a major restructuring of its ad tech division.

The first round of layoffs will be carried out this week, which will impact around 12% of its workforce, which amounts to nearly 1,000 employees. Yahoo also added that within the next 6 months, another 8%, or 600 employees, will lose their jobs. These layoffs will impact almost 50% of Yahoo’s ad tech business, according to a report by Reuters.

Yahoo’s move to cut its workforce comes as many major U.S- based companies, including Google and Microsoft, have announced layoffs this year citing rising inflation rates and the continued uncertainty of recession as reasons.