Google Trims Waze Workforce in the Wake of Google Ads Integration
Portfolio Pulse from Anusuya Lahiri
Alphabet Inc's Google plans to downsize the workforce at mapping app Waze as it merges its advertising system with Google Ads technology. The company reduced roles focused on Waze Ads monetization as it began transitioning Waze's existing advertising system to Google Ads technology. Google had acquired Waze for about $1.3 billion in 2013 and in December, shared plans to merge Waze and Google Maps teams to consolidate processes. Google's shares traded lower by 0.34% at $118.60 premarket on the last check Wednesday.
June 28, 2023 | 11:56 am
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NEGATIVE IMPACT
Google's decision to downsize the workforce at Waze and merge its advertising system with Google Ads may lead to cost savings and increased efficiency. However, the news led to a slight decrease in Google's premarket share price.
The downsizing at Waze and the integration of its advertising system with Google Ads could lead to cost savings and increased efficiency for Google. However, the news of the downsizing may have contributed to the slight decrease in Google's premarket share price, indicating a potential negative short-term impact.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Google's decision to downsize the workforce at Waze and merge its advertising system with Google Ads may lead to cost savings and increased efficiency. However, the news led to a slight decrease in Google's premarket share price.
The downsizing at Waze and the integration of its advertising system with Google Ads could lead to cost savings and increased efficiency for Google. However, the news of the downsizing may have contributed to the slight decrease in Google's premarket share price, indicating a potential negative short-term impact.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100