The Trade Desk cuts 15% of workforce amid restructuring and weak earnings

The Trade Desk disclosed plans to lay off roughly 15% of its workforce, translating to over 500 positions, as part of a broader restructuring effort. Jeff Green, the chief executive, explained that the company will shift to smaller, more focused groups to boost speed and ownership. This decision comes after a disappointing earnings report in which revenue grew only 3% year-on-year and fell short of Wall Street forecasts.

The firm reported cash reserves of about $1.5 billion and no debt on its balance sheet. Over the past year, the company's stock has fallen dramatically and it has experienced high turnover among its C-suite and board members. The restructuring also follows a settled dispute with Publicis Groupe and ongoing competitive pressure from rivals such as Amazon and Google.