In an email to employees on July 17, 2023, Ezoic CEO Dwayne Lafleur announced that the company would be laying off 28% of its staff. The layoffs come as a result of the economic downturn and the decline in ad rates.
Lafleur said that the company had made some “big mistakes” in its hiring practices, and that it had “grossly over-hired” in 2022. He also said that the company had not adequately anticipated the downturn in the economy.
The layoffs will affect all levels of the company, and will include employees from both the San Diego and London offices. Lafleur said that the company would be providing severance packages and other assistance to those who were laid off.
In the email, Lafleur said that the layoffs were “a difficult decision,” but that they were necessary to ensure the company’s long-term future. He said that Ezoic was “still confident in the future,” and that the company would continue to be a “source of innovation for creators.”
The layoffs come at a time when the online advertising industry is facing a number of challenges. Ad rates have been declining, and the overall market is becoming increasingly competitive. The layoffs at Ezoic are a sign of the tough times that the industry is facing.
Analysis
The layoffs at Ezoic are a significant event in the online advertising industry. The company is one of the leading players in the industry, and its decision to lay off 28% of its staff is a sign of the tough times that the industry is facing.
The layoffs are also a sign of the challenges that Ezoic is facing. The company has been growing rapidly in recent years, but it has also made some mistakes. The decision to over-hire in 2022 was a major mistake, and it has led to the layoffs today.
The layoffs at Ezoic are a reminder that the online advertising industry is a competitive and volatile industry. Companies need to be careful about their hiring practices, and they need to be prepared for changes in the market.
What’s Next for Ezoic?
The layoffs at Ezoic are a setback for the company, but they do not mean that the company is doomed. The company has a strong track record, and it has a number of innovative products.
The company will need to focus on reducing costs and becoming more efficient. It will also need to be more strategic about its hiring practices. If the company can do these things, it will be well-positioned for success in the future.
