OpenX slashes employee count as it pivots to video
OpenX, an advertising tech company headquartered in California, has laid off 100 people as part of plans to focus on video.
Staff are being cut from its London and New York offices as well as from its Pasadena base. The roles will be shift to Krakow, Poland, where engineering talent costs less to hire. Around two dozen people currently work at the Poland office, and OpenX plans to double that number next year.
Engineering, product and tech employees are amongst those stung by this decision, as well members of account management and platform demand teams.
The layoffs were made following a business review earlier this year, when OpenX finalised its strategy to shift from programmatic advertising marketplaces and into video.
“We are now operating from a more streamlined organizational structure to enable us to continue to succeed in the market,” an OpenX spokesperson said.
OpenX also said it got millions in connected TV revenue this year as its video business increased 600%.
The firm claims to have been profitable for the previous five years, yet its rivals have struggled to stake a claim in the sector recently.
As Google’s exchange, Index Exchange and OpenX fight over market share, Rubicon Project was slashing its engineering teams and AppNexus shelved plans to IPO.