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Yahoo is shutting down its supply-side platform and pivoting its ad-tech business to focus on its demand-side platform, CEO Jim Lanzone told Adweek Thursday.
In the process, the company is laying off more than 20% of its total workforce and more than 50% of its ad-tech employees for a total of more than 1,600 people, Axios reported.
Lanzone said the decision was a result of a shift in business strategy and not the result of economic hardships roiling the advertising industry.