Shulou(Shulou.com)11/24 Report--

Thanks to CTOnews.com netizen Brother Black fly's left hand clue delivery! CTOnews.com, February 10 (Xinhua)-- Yahoo issued a statement on February 9 local time that it would cut more than 20% of its advertising department by the end of 2023 to restructure its advertising department, or more than 1600 people, of which about 1000 will be laid off this week.

As far as CTOnews.com knows, the job cuts will affect about half of Yahoo's advertising technology business. Yahoo said that the layoffs are not because of economic problems, but because of strategic adjustment.

A spokesman for Yahoo said that Yahoo for Business, the company's traditional advertising technology division, would be overhauled and transformed into a new department called Yahoo Advertising. As part of this change, Yahoo plans to cut nearly 50 per cent of its workforce this year, "including nearly 1000 this week". These decisions will not be easy, but we believe that in the long run, these changes will strengthen and streamline our advertising business while enabling Yahoo to provide better value to our customers and partners.

Jim Lanzone, Yahoo's chief executive, said in an interview with Axios that the changes would "greatly benefit Yahoo's overall profitability" and would allow the company to "continue to attack" and invest more in other profitable areas of its business.

The history of Tuyuan Pixabay Yahoo can be traced back to 1994, when the "Jerry's Network Guide" information index website, founded by two Stanford graduate students, David Ferro (David Filo) and Yang Zhiyuan (Jerry Yang), changed its name to "Yahoo!" in March of the same year, and then founded the company in 1995 and made an initial public offering in 1996.

Yahoo was synonymous with the Internet itself for much of the 1990s, but in the decades that followed, its status plummeted as Google dominated the search engine and platforms such as Facebook, Instagram and YouTube dominated social media.

Apollo Global Management, a private equity firm, bought 90 per cent of Yahoo from Verizon for $5 billion in 2021, while the latter bought the company entirely in 2017.

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