Yahoo! To Lay Off 1000 Employees This Week: Report According to Bloomberg, the company will sack nearly 1000 jobs, which is roughly 12% of its workforce

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Yahoo! Twitter handle

Internet giant Yahoo! has decided to lay off 20% of its total workforce as part of its restructuring at its ad tech division, according to reports. According to Bloomberg, the company will sack nearly 1000 jobs, which is roughly 12% of its workforce. The company will reportedly send out emails by this week. A company spokesperson also told the publication that the Apollo Global management-owned company would reduce the Yahoo for Business ad tech unit by almost 50% or more than 20% the workforce at Yahoo by the end of 2023.

In an interview with Axios, Yahoo! CEO Jim Lanzone has reportedly said that the decision to trim the staff will be tremendously beneficial for the profitability of Yahoo overall. Yahoo says the company is very profitable and the job cuts were due to the division's restructuring rather than troubles in the ad market. The company will also reportedly shut down its advertising business, called its SSP, or supply-side platform.

According to data by Trueup.io, roughly 106,950 workers across various tech companies lost jobs last month, making it worse than the combined job losses in November and December 2023.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
Science & Technology

7 AI Tools to Build a Profitable One-Person Business That Runs While You Sleep

Smart systems to help solo founders scale fast.

News and Trends

India, Germany Unite to Launch Green Hydrogen Hub in Andhra Pradesh

Strategic partnership to empower Andhra Pradesh and Telangana with investment, job creation, and global hydrogen infrastructure

News and Trends

Vivek Oberoi Acquires 21% Stake in Rutland Square Spirits

"India's rich tea heritage will now meet Scotland's time-honoured spirits tradition," said Oberoi. "This project is an exciting bridge between two economies and cultures."

Starting a Business

I Had 'Too Much Experience' to Find a Job. So I Used Facebook to Start a Small Business That's Making About $500,000 a Year.

After Amber Starling moved to Manhattan, Kansas, a frustrating job search led to a life-changing business opportunity.

Business News

New AI Model Will Likely Blackmail You If You Try to Shut It Down: 'Self-Preservation'

When given the choice between blackmail and being deactivated, Claude Opus 4 chose blackmail 84% of the time.

Business News

'I Run My House Like a Military Operation': Skims Chief Emma Grede Says This Is Her Precise Daily Routine

Grede is a CEO, founder, and serial entrepreneur. Here's how she prioritizes her day.