Permutive Layoffs
April 2023
Permutive announced a layoff affecting 80 employees (40% of its workforce) in April 2023. The company operates in the Marketing sector.
80
40%
Apr 11, 2023
About
UK-based adtech firm Permutive, backed by SoftBank, announced a significant layoff this week affecting just under 80 employees, which represents about 40% of its total staff. This follows a previous round in August 2022 that cut 12% of roles. CEO Joe Root cited a challenging economic environment, an 80% drop in late-stage venture capital funding, and a need to prioritize profitability as reasons for the restructuring. The company, which provides audience segmentation and data clean room technology to publishers, is undergoing formal consultation processes in the UK and internationally. This move reflects broader pressures in the digital advertising industry, where slowing ad spend and rising costs have prompted widespread cost-cutting.
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