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☆ Adtech company Criteo is laying off up to 4% of staff as it prepares for the cookie apocalypse
  + stars: | 2024-04-12 | by ( Lara O'Reilly | ) www.businessinsider.com   time to read: +4 min
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewCriteo, the publicly traded adtech company, told staffers this week it would lay off up to 4% of its staff, people familiar with the matter told Business Insider. The company had 3,563 employees as of December 31, meaning the reduction could affect around 140 people. AdvertisementIn its most recent quarter, Criteo reported a return to profit on flat revenue, having made $70 million in cost savings over 2023. Criteo also made a round of layoffs last year, Digiday reported, though the company didn't disclose the number of employees affected.
Persons: —, we've, Criteo, retargeting, It's, Petrus, Digiday Organizations: Service, Business, Google Locations: Paris
☆ Activist Petrus Advisers has a plan to help lift Criteo’s share price. Here’s how it might unfold
  + stars: | 2024-03-09 | by ( Kenneth Squire | ) www.cnbc.com   time to read: +8 min
Criteo operates across three segments – marketing solutions, retail media, and Iponweb – but generated 83% of its $1.95 billion of revenue in 2023 from the marketing solutions segment. To many in the investor community, this was the death knell for cookies leading to uncertainty for Criteo's largest segment. Additionally, the company's retail media segment is a very appealing and growing business using software as a service for e-commerce companies. Petrus will likely nominate outside directors to the board as they rarely propose Petrus insiders for board seats. If it does not settle, Petrus has shown that they are willing to take a proxy fight to a vote.
Persons: Petrus, Rachel Picard, Megan Clarken, Alphabet's, Criteo, Frank Layden, Petrus —, Neuberger Berman, AllianceBernstein, Evercore, Ken Squire Organizations: Criteo, Petrus Advisers, Nasdaq, Alphabet's Google, TAC, Cadian Capital Management, Bloomberg, Reuters, 13D Locations: France, Europe, Americas, Asia, Pacific
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