- Apollo Global Management, Inc’s (NYSE: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 (NYSE:GS) to Alphabet Inc (NASDAQ: GOOG) (NASDAQ: 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.
Ford Teams Up With Zeeba Automotive To Electrify Fleet
Ford Motor Co (NYSE:F) will now help fleet management company Zeeba Automotive Group, Inc electrify its fleet. What Happened: Zeeba will…
