Adtech company The Trade Desk lays off 15% of staff as it restructures into 'smaller pods'
Advertising technology company The Trade Desk is laying off 15% of its staff and restructuring into “smaller teams”. CEO Jeff Green stated in a announcement on Thursday evening that the goal is to adjust the company’s structure into more focused, smaller units. This restructuring is expected to affect more than 500 employees, after previous financial reports showed a total of 3,843 employees. This news comes shortly after the company’s performance last month fell short of Wall Street expectations, with revenue growing only 3% year-over-year. The Trade Desk’s stock price has dropped by about 70% over the past year, and it faces challenges such as a large-scale loss of senior management and disputes with public group clients. Analyst Richard Kramer noted that layoffs are not unexpected given two consecutive years of poor performance and expected declines in sales in the second half of the year.