PubMatic Layoffs: US-Based Adtech Company Lays Off Employees To Focus on Growth Areas, Plans To Increase Workforce by 15% This Year
US-based adtech company PubMatic laid off employees to focus on the growth areas like connected TV ads. The company aims to hire more employees this year and increase its workforce by 15%.
Redwood City, October 8: PubMatic, a US-based online advertising company, conducted a layoffs round and reduced its workforce to grow other parts of the business. The company laid off employees to re-orient its business towards growth areas like connected TV advertising. Some of the employees shared more details about the adtech layoffs and asked to remain anonymous.
Business Insider reported that PubMatic layoffs were announced last week and affected around a dozen staff members in New York City. The report said the affected employees represented around 1% of the company's workforce. However, PubMatic refrained from giving away the exact numbers of the employees who had been laid off. Silent Layoffs Surge in Silicon Valley As Tech Giants Aim To Avoid Bad Press, Adopt Techniques Like 'Work From Office' To Trigger Job Cuts: Report.
The PubMatic spokesperson said that the company had over 50 open positions and was actively hiring candidates and added that it also wished to grow the number of headcounts by 15% in 2024. PubMatic, as of December 21, 2023, employed around 948 employees; out of them, 290 were from the United States. The adtech layoffs announced have affected a relatively small number of employees from the workforce.
Rajeev Goel and Amar Goel founded PubMatic in October 2006, headquartered in Redwood City. The platform offers a wide range of advertising solutions for a variety of customers. PubMatic identifies itself as a "programmatic advertising technology solution" company. It helps publishers organise and sell their ad inventory in online advertisement auctions. Amazon Workers ‘Strongly Dissatisfied’ by 5-Day Return-to-Office Mandate, Nearly 1,900 Employees Looking for Job Change: Report.
PubMatic expanded its operations in areas like video, retail media, connected TV, and supply chain optimisation, which helps advertisers streamline the buying process by forming direct relations with publishers without requiring any intermediaries.
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