US adtech giant The Trade Desk lays off 15% of global workforce; Singapore team affected
Some of its employees in Singapore spoke about the layoff on social media.
US advertising technology company The Trade Desk announced the termination of 15% of its global workforce, including some employees in Singapore. The decision was communicated by the company's founder and CEO, Jeff Green, in an email to staff on September 3. Green emphasized that this was a difficult decision and not a common practice at The Trade Desk.
The company, headquartered in Ventura, California, has offices in various global locations, including Singapore, Tokyo, Seoul, Jakarta, Shenzhen, and Taipei. According to LinkedIn, TTD had around 140 employees in Singapore before the layoffs. The company's disappointing financial guidance and subsequent impact on its stock price led to this decision.
TTD has approximately $1.5 billion in cash and no debt on its balance sheet, enabling it to invest in strategic areas like artificial intelligence and media measurement tools. Green also mentioned that the company intends to streamline operations by organizing teams into smaller units with a greater focus.
Written by urgent.news from Straits Times Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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