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Tech Layoffs: Yahoo To Lay Off 20% Of Employees

Summary: Yahoo is planning to lay off 20% of its employees, or 1,600 people, starting from the second week of February 2023. The job cuts are aimed at streamlining the company’s operations and focusing on its advertising business, and will primarily impact the Yahoo for Business unit.


Yahoo plans to lay off 20% of its employees, or 1,600 people, starting from the second week of February 2023. According to a report, the company employs about 8,000 people at the time of the announcement.


Tech layoffs have become expected in recent years, starting around mid-2022. Yahoo hopes that these layoffs will help the company streamline its operations and focus on its advertising business.


The job cuts will primarily impact people in the Yahoo for Business unit, as the sector did not meet expectations. In a statement to CNBC, a representative of the company said that the layoffs will continue until the end of 2023.


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“Given the new focus of the new Yahoo Advertising group, we will reduce the workforce of the former Yahoo for Business division by nearly 50% by the end of 2023. These decisions are never easy, but we believe these changes will simplify and strengthen our advertising business for the long run, while enabling Yahoo to deliver better value to our customers and partners,” the spokesperson stated.


Affected employees will receive severance packages, but the company has not disclosed the details to the public. Typically, severance packages include pay for 12 to 16 weeks and health care coverage.


In the future, Yahoo wants to strengthen its partnership with the digital advertising company, Taboola.


Yahoo email
Yahoo was one of the early pioneers of the internet in the early 1990s.


Although Yahoo was an early pioneer of the internet, it has been declining since the late 2000s and is currently owned by Verizon Communications, which purchased it for about $4.48 billion in 2017.


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Onwuasoanya Obinna

A reader of books and stringer of words. Passionate about Science and Tech. When not writing or reading he is surfing the web and Tweeting.