• by Tobi Elkin  @tobielkin, December 8, 2015

PubMatic has laid off more than 100 employees, including two senior executives,  according to a report published on Tuesday by AdExchanger.

The layoffs, reportedly affect 20% of the company's global staff and come after an 8% cut in October. Combined, the cuts have reduced PubMatic’s workforce from 600 to about 450.

Speaking with AdExchanger, CEO Rajeev Goel said the layoffs “came from a place of strength" and that the company would refocus on its core strength. “We saw a minority of publisher customers represent 90% of our revenue,” Goel told AdExchanger. “We’re doubling down on the minority of customers who are poised to grow with us.”

A PubMatic spokesman could not be reached for comment.