Yahoo announces end of Brazilian operation and cut of 1,600 – 02/10/2023 – Market

Yahoo plans to lay off 20% of its global team, according to CEO Jim Lanzone’s interview with the Axios website this Thursday (9), which represents more than 1,600 layoffs.

The approximately one hundred workers of the company in Brazil received the news of the end of the local operation on Thursday night, according to the report with employees.

A Sheet found that the Yahoo Brasil content site should only work until March 30.

Sought, Yahoo did not respond until the publication of this text.

According to UOL, the Brazil office has already communicated the dismissal of all 80 employees of Yahoo Business, the company’s business, technology and advertising division. This is the most impacted area worldwide, with a cut of 50% of total workers in 2023.

According to statements by Lanzone to Axios, the cuts were not for financial reasons but rather a strategic change in the advertising sector, which is currently not profitable. According to the North American website, Yahoo announced to have profited US$ 8 billion (R$ 42 billion, in the current quotation) considering all its areas in 2022.

Apollo Global Management bought Yahoo and the AOL portal for US$ 5 billion in 2021. The two sites led the internet in hits in the 1990s.

In 2022, Yahoo announced the purchase of 25% of the shares of the Taboola platform, a global leader in the digital advertising market, becoming the company’s largest shareholder.