Mobile ads firm AdColony has laid off a number of senior staff as it tries to become profitable.
As reported by AdExchanger, the firm has let go of another of executive-level employees, including VP of performance Tim O’Neil.
It’s reported that job roles associated with growth, publisher biz dev, marketing and project management for the company’s SDK are also affected by the redundancies.
Eyes on profits
AdColony claims the layoffs and general streamlining of its business are part of attempts to get the company profitable, which it did not manage in 2017.
The news comes after the firm laid off more than 35 per cent of its staff in 2017.
“There have been a lot of changes at the leadership level,” said AdColony COO Şekip Can Gökalp.
“We want to grow the company, and fast, and the most recent changes are purely down to cost savings. We want to be a leaner organisation that can act fast.”
Gökalp added that while the company is currently without a permanent CEO, it does not plan to employ one in the near future.
The role is currently managed by Lars Boilesen, CEO of parent company Otello, following former AdColony CEO Will Kassoy’s departure in December 2017.