Yahoo To Let Go 20% Employees, Focus On Its Flagship Ad Business

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Apollo Global Management, Inc's APO Yahoo weighed downsizing over 20% of its total workforce as part of its ad tech division overhaul.
The cuts will impact nearly 50% of Yahoo's ad tech employees by the end of this year, including about 1,000 employees this week, Reuters reports.
Yahoo aimed to narrow its focus and investment on its flagship ad business, called the demand-side platform.
Yahoo's move coincided with advertisers paring back their marketing budgets following record-high inflation rates and macro uncertainties.
U.S. companies, ranging from Goldman Sachs Group Inc GS to Alphabet Inc GOOG GOOGL Google downsized in thousands to beat the double whammy.
Price Action: APO shares are up by 2.03% at $69.79 premarket on the last check Friday.