Integral Ad Science has cut nearly 10% of its staff, becoming the latest adtech company forced to reduce headcount to deal with the financial implications of COVID-19.
A spokeperson from the verification outfit told Campaign Asia-Pacific that "less than 10%" of its 700-person global workforce has been impacted. The news was first reported by The Wall Street Journal.
Adtech companies are grappling with extended payment terms and heavy declines in spending in some categories of advertisers, such as travel and sports.
Several firms—especially those that have grown by VC funding rather than organically—have found themselves in a precarious financial situation during COVID-19.
Others which have made staff cuts include DSP MediaMath, reported to have cut 8% of its workforce, artificial intelligence adtech firm GumGum, which reportedly laid off 25% of its workforce, Quantcast, which reportedly cut just under 5% of headcount, and OpenX, which said in April it had laid off, furloughed or cut hours for 15% of its employees.
Some firms, including PubMatic, are still hiring.
