Rubicon Project and Telaria, which will report Q1 earnings for the first time as a combined company on Wednesday, are laying off at least 8% of staff, according to multiple sources familiar with the situation.
When Rubicon announced its acquisition of Telaria last December, it expected to create cost synergies, or savings, between $15-$20 million. However, those projections were made before the ad-tech ecosystem felt the financial hit of the Covid-19 pandemic. As a result, the combined company took deeper cost-savings measures, including cutting more staff than anticipated, according to sources.
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