finance.yahoo.com

The Trade Desk Cuts Nearly 15% of Global Staff in Restructure

The Trade Desk logoThe Trade Desk
Sig3.35Sen-2.95Env0.00Soc-5.10Gov-1.20

The Trade Desk is cutting nearly 15% of its worldwide workforce, affecting about 575 people, as it restructures teams into smaller “pods” and “scrums.” The company expects $39 million to $51 million in cash restructuring charges, partly offset by a $4 million to $5 million stock-compensation reversal. Second-quarter revenue was about $715 million, up 3% year over year, and the firm says it has $1.5 billion in cash with no debt.

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