Outbrain Layoffs
June 2023
Outbrain announced a layoff affecting 90 employees (10% of its workforce) in June 2023. The company operates in the Marketing sector.
90
10%
Jun 1, 2023
About
Outbrain, an Israeli-founded internet recommendation platform, laid off approximately 90 employees, representing 10% of its global workforce, in June 2023. This marked the company's second round of layoffs within a year, following a reduction of 38 staff in July 2022. The decision was driven by challenging macroeconomic conditions that weakened advertising demand, impacting revenue. In Q1 2023, Outbrain reported a 9% year-over-year revenue decline to $231.8 million and a net loss of $5.6 million. The company, which went public in 2021, has seen its market valuation drop significantly amid industry-wide pressures.
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