In a significant restructure of its ad tech sector, Yahoo said that more than 20 percent of its whole personnel would be laid off.Roughly 1,000 people will be affected this week, and by the end of the year, nearly 50 percent of Yahoos ad tech staff will be affected, according to the business.With the purchase, Yahoo, which has been owned by private equity firm Apollo Global Management since a 5 billion dollar takeover in 2021, said it will be able to concentrate more of its efforts and resources on its DSP, or demand-side platform, or flagship ad business.This occurs at a time when many advertisers have reduced their marketing budgets due to the record-high inflation rates and ongoing worry regarding the possibility of a recession.Numerous American businesses, including Goldman Sachs Group Inc. and Alphabet Inc., have also made thousands of layoffs this year to withstand a drop in demand driven by by high interest rates and inflation. After a huge start in 2020 during pandemic, tech companies benefited from a boom in e-commerce spening and remote work boomed. But now things are changed. Companies are laying off their employees.Other companies also laid-off their workforceJP Morgan, Google, Microsoft, Disney, Amazon, other tech and e-commerce companies also laid off their employees reasoning profit declines.eBay Inc., an e-commerce company, announced on Tuesday that it will let go of 500 employees worldwide, or 4 percent of its whole workforce.Few days back, Microsoft also announced big job cuts, affecting 10,000 employees. The e-commerce titan Amazon laid off its 18,000 employees. Initially, it was projected that the job cuts, which began last year, would affect around 10,000 positions.The iPhone make also paused hiring for many jobs in their organisation. Genesis, HP, Intel, Twitter has also fired their workforces.
