PubMatic, the publicly listed adtech company, recently laid off employees as it reorients its business to focus on high-growth sectors like connected-TV (CTV) advertising. According to several sources familiar with the matter, the job cuts impacted at least a dozen employees in New York City. A PubMatic spokesperson confirmed the layoffs, stating they represented about 1% of the company’s global workforce, though specific numbers were not disclosed.
The company, which had 948 employees as of December 2023, is streamlining its operations to target areas such as supply path optimization, CTV, and commerce media. This restructuring aims to foster innovation, reduce complexity, and enhance collaboration under consolidated leadership. Despite the layoffs, PubMatic plans to grow its overall workforce by about 15% this year and currently has over 50 open positions.
Founded in 2006, PubMatic provides a supply-side platform that enables publishers to organize and sell ad inventory in online ad auctions. It has since expanded into sectors like video, retail media, and supply path optimization to streamline advertising processes for advertisers and publishers alike.
In its most recent financial report in August, PubMatic announced a 6% year-over-year revenue increase and a 10% rise in gross profit. However, the company lowered its full-year revenue guidance due to changes in how one of its demand-side platform partners, reportedly Google’s DV360, bids on ad auctions. The company also noted continued weakness in ad verticals such as technology, automotive, travel, and entertainment.
Despite this, PubMatic remains committed to growth, with plans to bolster its presence in CTV and other emerging areas. The company’s stock, which went public in 2020, has faced challenges, down about 8% year to date, with a current market capitalization of approximately $730 million.
