Layoffs At Facebook Ad Outfit Spruce Media
Facebook advertising solutions provider Spruce Media laid off some 20 people Monday, reducing its staff to around 35, Chief Operating Officer Lucy Jacobs confirmed to Business Insider.
Facebook advertising solutions provider Spruce Media laid off some 20 people Monday, reducing its staff to around 35, Chief Operating Officer Lucy Jacobs confirmed to Business Insider.
Jacobs told Business Insider the layoffs were not the result of financial issues, and Spruce Media secured $15 million in debt financing from Square 1 Bank in November.
Rather, Business Insider reported, the moves were made so that the company could align its business to correspond with recent changes in Facebook’s advertising process, adding that Spruce licensed its self-serve ad-management platform to several ad agencies, resulting in less need for head count.
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in