Trade Desk falls after its largest-ever round of layoffs
-4.37% to $14.43 from $15.09
What moved TTD
- The Trade Desk said it will eliminate roughly 575 jobs, about 15% of its global workforce, the largest layoff in company history.
- CEO Jeff Green told employees the move is a structural overhaul, reorganizing teams into smaller “pods” and “scrums,” rather than a response to financial distress.
- The company expects cash restructuring charges of $39 million to $51 million, mostly for severance and employee benefits.
- The cuts follow the company’s first-ever projected revenue decline and mounting price competition from Amazon’s demand-side advertising platform.
Sources: Seeking Alpha · PPC Land · Blockonomi