Mobile advertising firm AdColony laid off nearly 100 staff last week, according to a report.

People “familiar with the matter” told Business Insider that the firm made cutbacks on the number of staff it employs as part of a move to use more programmatic ad sales options.

This means that AdColony is letting more clients use an automated process for ad buying rather than just working with a person at the company.

The report also noted that the firm is stepping away from mobile banner ads and moving into reward-based advertising.

The company had employed around 755 staff before the round of layoffs.

Revenues down

AdColony owner Opera Software recently reported the advertising company’s revenue was down year-on-year in Q1 2017.

It put this down a delay in product launches, fewer hit games launched in the period compared to Q1 2016 and the lower returns from programmatic channels.

"We have a plan in place that has allowed us to become the largest mobile ad platform outside of the social ecosystem, and as we continue to execute, we need to be agile, willing to take risks, and hyperfocused on the areas where we can win," said AdColony CEO Will Kassoy.

"The moves we made were part of the larger process of integrating all of the pieces we have at AdColony and ensuring we’re growing the company in a way that specifically fits our vision for the future of the mobile advertising space."