Affiliate network and technology provider Tradedoubler has announced that “around ten employees” will leave the firm as part of one-off measures to improve its efficiency.
The cuts are being made to the company’s management, a release from Tradedoubler stated, with CFO Tomas Ljunglof leading the departures.
Ljunglof will however keep the role until August 2016 following his resignation.
Reductions have also been made in “other overheads” which, combined with the staff departures, will save the company 10 million SEK – close to £1 million.
Making plans
Tradedoubler is hoping for a big 2016 after seeing a tumble in its profits throughout last year. The most-recent forecast shows a 13% drop in gross profit between January – September 2015, compared to the previous year.
The company was also subject to a failed takeover bid from marketing cloud group gravity4, but managed to make some noticeable improvements to its performance marketing technology set-up.
Last year the group purchased German ad tech firm adnologies – a deal which came with a range of the latter’s ad tech products and services, including an ad server, demand-side platform, data exchange and more.
The company looks to be moving forward in a similar vein, with the release also promising the roll out of a “new performance marketing solution” that would help its clients reel in new customers.
This will be done without the help of Ljunglof, who is set to depart the company he joined precisely a year ago under the remit of delivering “scalable, profitable growth”.
Speaking of the departure, Tradedoubler CEO Matthias Stadelmeyer said: “Tomas and his teams have contributed greatly in the work to turn around Tradedoubler.
“On behalf of the board and the management I wish Tomas the best of luck for the future.”