Magnite, a digital advertising technology company, announced a workforce reduction of approximately 6% across its global operations. This layoff, disclosed in a filing on Thursday, is part of the company's ongoing integration efforts following its 2021 acquisition of SpotX, Inc. The cuts primarily target duplicative roles as Magnite consolidates its CTV platforms and realizes operating cost synergies from the acquisition. While the exact number of affected employees was not specified, the 6% reduction reflects a strategic move to streamline operations and eliminate redundant positions within the organization.
