Ad-Tech Firms Continue Laying Off Workers Due to Coronavirus

BounceX, LoopMe, VideoAmp, Quantcast and Adara have let staff go

Nearly 17 million Americans have filed for unemployment over the last three weeks as the coronavirus continues to cripple the economy, and there seems to be no end in sight for the impact the virus is having on the ad-tech industry.

Ad tech has already been under pressure as dwindling investment and seismic changes to privacy and targeting strain balance sheets. The financial downturn caused by coronavirus seems only to be exacerbating that pain.

Six companies have confirmed to Adweek that they’ve been forced into taking cost-saving measures, including laying off staff, to stay afloat as the pandemic is forcing clients to pause marketing budgets.

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