New York (EFE)
The decision of the internet portal, acquired in 2021 by the investment fund Apollo, responds to a restructuring of its digital advertising business, an area where it tried to compete with Google and Meta and which has not been profitable.
Axios advanced the news and pointed out that the layoffs will affect more than 1,600 people, which represent more than half of the employees of that digital advertising unit.
Yahoo’s CEO, Jim Lanzone, told the US media that the cuts are not due to financial difficulties at all, but to a change in strategy that he hopes will allow the company to improve its profits and expand investments in other areas.
About a thousand employees, approximately 12% of the workforce, will leave the company immediately, while the rest of the departures, around 8% of the total number of employees, will take place in the second half of the year.
Yahoo thus joins numerous technology companies that in recent months have announced major layoffs after growing strongly during the pandemic.
The firm, which marked an entire era on the internet, was first acquired by the telecommunications group Verizon, which in 2021 sold 90% of the company to the Apollo fund for around 5,000 million dollars.