Yahoo to lay off more than 20% of staff

Yahoo said on Thursday it plans to lay off more than 20% of its total workforce as part of a major restructuring of its ad tech division. The cuts will impact nearly 50% of Yahoo's ad tech employees by the end of this year, including nearly 1,000 employees this week, the company said. This comes as many advertisers have pared back their marketing budgets in response to record-high inflation rates and continued uncertainty about a recession. Yahoo said on Thursday it plans to lay off more than 20% of its total workforce as part of a major restructuring of its ad tech division. This comes as many advertisers have pared back their marketing budgets in response to record-high inflation rates and continued uncertainty about a recession.