The Trade Desk said Friday it will cut about 15% of its global workforce as part of a broad restructuring plan. The stock dropped 3% to $14.65 on the news.
TTD had edged up 0.2% in pre-market trading after the announcement, but that early optimism faded once regular trading began.
CEO Jeff Green informed employees on September 3 and filed an SEC 8-K the same day. The cuts affect roughly 575 workers across more than 21 countries.
The Trade Desk had 3,843 full-time employees as of December 31, 2025. A 15% reduction puts the number of impacted workers at just over 500.
The company expects restructuring charges of between $39 million and $51 million, primarily for severance and employee benefits. That will be partially offset by a $4 million to $5 million reversal in stock-based compensation costs.
Green described the move as a deliberate shift toward smaller, more agile team structures. He pointed to The Trade Desk’s roughly $1.5 billion cash position and zero debt as signs the company is not cutting from a position of weakness.
Most of the headcount reductions are expected to wrap up during Q3 2026.
The company said resources will be redirected toward connected television and AI-driven advertising technology, which it sees as higher-priority growth areas.
In early August, The Trade Desk missed second-quarter revenue expectations. Management said at the time it was “taking decisive action to strengthen our execution, upgrade our platform, and sharpen our focus.”
One analyst reiterated a Buy rating and a $19 price target on September 3. The note cited potential upside tied to a possible restructuring of a major competitor’s ad-technology business.
TTD stock has fallen 60% so far in 2026 and is down 71% over the past 12 months. The stock sits well below its 52-week high of $56.39.
Wall Street expects full-year earnings to fall to 40 cents a share, down from 90 cents last year. That would mark a second straight year of declining profit after The Trade Desk posted earnings of $1.66 a share in 2024.
Analysts also expect revenue to fall this year and continue declining into 2027, according to FactSet.
The broader market provided little support on Friday, with the S&P 500 and Dow Jones each down 0.2% while the Nasdaq was marginally positive at +0.1%.
TTD’s most recent trading price on Friday was $14.65, down 3% on the day.
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