Yahoo is no longer the company it used to be, including in France. Year after year, the former world web nugget has made layoffs. In 2009, a plan affected 20% of the group’s French employees, which then had 251 employees.
In 2023, the workforce of Yahoo France will be reduced to 57 people. And according to information from Mind Media, the American company made the decision to amputate it up to 60%. At the end of August, 34 employees will leave the Paris office of the advertising agency.
Google, Amazon and Meta monopolize revenue
Yahoo should thus keep “only the editorial team dedicated to its information portal and a few ancillary positions”, writes our colleague. The company’s French sales representatives are thus made redundant under a PSE.
These dismissals are part of a global restructuring plan which provides for the elimination of 1,600 positions in 2023 out of a total of 8,000. Some portals are closing and Yahoo is reducing its presence in Europe to a minimum.
This new turn of the screw is explained by the failure of the company’s strategy in the face of global competition from Google and Meta. The difficulties that the advertising market is going through are also having a severe impact on Yahoo.
In the first half of 2023, the growth of digital advertising in France experienced a marked slowdown. At +5%, the increase is far from the levels recorded over the same period of 2022 (+15%).
But above all, the market is concentrated between a handful of players. In the first half of the year, Google, Amazon and Meta earned more than 3 billion euros, or 69% of digital advertising turnover in France.