A Yahoo spokesperson told CNN that the company’s legacy ad tech division, Yahoo for Business, will be overhauled and transformed into a new division called Yahoo Advertising. As part of that change, Yahoo plans to cut nearly 50% of the division this year, “including nearly 1,000 employees this week,” the spokesperson said.
Axios, which was first to report the news, said the job cuts will impact more than 1,600 people in total. Yahoo did not immediately respond to a request for comment on the matter.
