EMX Digital, an adtech firm owned by Big Village, laid off nearly all of its roughly 100 employees this week following Big Village's Chapter 11 bankruptcy filing. The mass layoffs, which represent close to 100% of the workforce, occurred after private equity owner Lake Capital Partners failed to find a buyer for the company. Former employees expressed shock and anger, as they were not provided severance, unlike those laid off in a previous round last year. The bankruptcy stems from Big Village owing millions to major media companies like Google and NBCUniversal. The layoffs were announced in mid-February 2024, shortly after the departure of Big Village's global CEO, leaving staff feeling abandoned by leadership.
