PubMatic's Layoffs Hit Over 100 Employees

Ad tech company PubMatic (a sell-side platform) has announced significant layoffs, affecting 20% of its global workforce in other words over 100 employees got laid off from the company struggling with growth issues.

This comes just months after a previous round of job cuts at PubMatic, reducing the company's headcount from 600 to around 450.

As reported by AdExchanger, the layoffs were first announced on Tuesday afternoon.

CEO Rajeev Goel defended the cuts, stating that they were necessary for ensuring the company's continued growth and profitability.

He emphasized the need to focus on high-value clients and improve operational efficiency.

He said:

"I’ve never felt any pressure from my investors for timing for an exit, because PubMatic is profitable, it doesn’t need to raise more money and still has access to additional capital if needed,"

However, sources close to the company suggest that PubMatic has been facing challenges in execution, marketing, and leadership, which is hindering its growth and allowing competitors to gain an advantage.

The tough market conditions for SSPs, combined with the company's internal issues, have made it difficult to maintain a competitive edge.

Despite the layoffs, PubMatic remains optimistic about its future.

The company plans to invest in new initiatives, such as hiring additional salespeople to promote its buyer media console and focus on growing its international presence.

However, to me PubMatic layoffs are a sign for more big and small companies going to cut more jobs in future.