Criteo

Advertising technology company Criteo is laying off up to 4% of its global workforce, affecting approximately 140 employees, as part of a strategic restructuring to improve operational efficiency and invest in growth areas. The layoffs, announced in April 2024, come as the company prepares for significant industry changes, notably Google's planned deprecation of third-party cookies in its Chrome browser, which Criteo estimates could reduce its revenue by up to $40 million this year. With around 3,563 employees as of late December, the publicly traded adtech firm is pivoting from its traditional retargeting business toward commerce media and connected TV solutions to adapt to evolving privacy regulations and tracking restrictions.

Criteo, a France-founded ad tech company with over 3,100 employees, conducted layoffs in mid-February 2023, affecting teams on both sides of the Atlantic. While exact numbers are unconfirmed, social media posts suggest the cuts could impact up to 8% of the workforce, which would amount to approximately 250 employees. The layoffs come amid a challenging economic climate and a 14% year-over-year revenue dip in Q4 2022, as the company attempts to transition from its historic ad retargeting business to reposition itself as a retail media outlet. Speculation indicates these cuts may also serve as a prelude to a potential sale, with companies like Shopify and The Trade Desk rumored as interested buyers.