What's happening at Media.net?

media.net (DirectI group) has postponed the joining of product managers hired from campus placements of top BSchools of India, IIM ABCL ISB XLRI etc. No specific timeline has been provided, HR said “joining is postponed”, that’s it. Insider news is that layoffs are happening at media.net and employees haven’t been given any appraisals this year. They are also forcing work from office on their employees so that they resign by themselves. also, I read a news article related to Ad Fraud done by media.net on Forbes Website. https://www.thedrum.com/news/2024/04/04/forbes-accused-selling-mfa-media-brands-under-guise-legitimate-ad-space Media net is in a very bad shape rn. RIP 🪦

Entire team at media.net is laid off. Whole BU is laid off including analyst & senior PM's.

Yahoo to layoff 20% of its workforce.

Guys, heard anything about meta layoffs in India? A WSJ report today said that Meta will start its layoff drive globally this week 😐

Few folks from USA and London team have been fired. If things continue the way they’re then many more could be fired. Major advertising revenue comes from North America, and a recession there means huge advertising spend cuts by big accounts, which directly impacts many adtech companies. Would avoid adtech sector for next 12 mos.

Meesho to layoff 15% workforce today.