• AdExchanger, Wednesday, December 9, 2015 6:49 AM

AdExchanger appears to have broken the news on Tuesday afternoon that sell-side platform PubMatic has let go more than 100 employees. The layoffs, affecting 20% of the company's global staff, follow an 8% reduction in October. The combined cuts have reduced PubMatic’s workforce from 600 to about 450. Speaking with AdExchanger, CEO Rajeev Goel stressed the layoffs “came from a place of strength.” He said the company plans to refocus on clients that drive the most value. “We saw a minority of publisher customers represent 90% of our revenue,” Goel said. “We’re doubling down on the minority of customers who are poised to grow with us.”  AdExchanger reports that on the "plus side, PubMatic has been profitable for the past three years". To continue growth and serve its customers, Goel said he had to course correct and lay off staff.

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