Yahoo has declared that it will be reducing its workforce by 20%, amounting to a thousand layoffs this week alone. This decision is expected to take effect before the end of 2023.

In September 2021, the renowned private equity firm Apollo Global Management purchased a whopping 90% stake in Yahoo, which at that time had 10,000 employees.

Axios recently uncovered that the headcount at Yahoo is rapidly decreasing, with more than 1,600 personnel set to depart. Consequently, this brings the total number of employees down close to 8,000.

The organization revealed that it will be intensifying its longstanding partnership with Taboola (a digital advertising firm) to deliver more advertisement options.