OpenX is laying off around 100 employees

OpenX is laying off around 100 employees, the company confirmed to WSJ last Tuesday. OpenX is consolidating its engineering hubs into Pasadena, California, and Krakow, Poland. The office in Santa Clara, California will close. According to AdExchanger, it will also sunset its ad server by the end of the year.

The layoffs include engineering, human resources, marketing, and account management.

“Coming off our fifth straight year of profitability in 2018, we are proactively addressing how we can maintain our leadership position for years to come,” the spokesman said in a statement to WSJ. “We recognized early that this requires diversification of our core business and increased investment in growth areas.”

OpenX is planning to invest more than $100 million in new products next year, and in January will announce senior hires. OpenX was founded in 2017, has around 500 employees according to LinkedIn, and last year had a net revenue of $170 million.