The Trade Desk Cuts 15% of Staff After -70% Crash: What's Happening at TTD Now
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Key Takeaways
- The Trade Desk announced on September 4, 2026 a workforce reduction of 15%, affecting over 500 employees out of 3,843 full-time staff as of year-end 2025, with severance costs budgeted between $39 and $51 million.
- The AdTech company's stock fell approximately 70% in value over one year and trades nearly 90% below its peak at the end of 2024, making it one of the weakest performers in the S&P 500 over the past two years.
- In August 2026, The Trade Desk reported 3% year-over-year revenue growth, its weakest quarter since the pandemic, and missed Wall Street profit expectations, while analysts forecast 15% revenue declines for the second half of 2026.
- The Chief Finance Officer, Chief Revenue Officer, Chief Strategy Officer, Chief Marketing Officer and four board members left the company in recent months, which analyst Richard Kramer described as a loss of the entire C-level management.
- In March 2026, major customer Publicis Groupe recommended its clients to stop using The Trade Desk following a fee structure audit, before both parties announced a settlement in June 2026.
The Trade Desk announced on September 4, 2026 that it would cut 15% of its workforce. CEO Jeff Green shared the decision in an employee memo and on the company website The Current. Based on figures published in February 2026 for the period ending December 31, 2025 – when the AdTech company employed 3,843 full-time staff – more than 500 people are affected. The company has budgeted severance and benefits costs between $39 and $51 million.
Stock Falls 70% in One Year
The job cuts come in the context of a dramatic stock price decline. The Trade Desk lost approximately 70% of its market value over the past twelve months. From the peak at the end of 2024, the decline is nearly 90%. Richard Kramer, analyst at Arete Research, called the stock "one of the worst-performing titles in the S&P 500 over the past two years".
The company's shares, which operate as a technology platform for programmatic advertising, rank among the biggest losers in the broad US stock index. The S&P 500 closed on September 9, 2026 at 7,685.63 points, after a modest daily loss of 0.22%.
Weakest Quarter Since the Pandemic
In August 2026, The Trade Desk reported disappointing results for the recently completed quarter. Revenue growth was just 3% year-over-year – the weakest quarterly growth since the pandemic. The company also missed Wall Street profit expectations. CEO Green acknowledged at the time that the company had "not met the standard we set for ourselves" and announced plans to strengthen execution, improve the platform and sharpen focus.
Analysts expected further revenue declines of 15% for the second half of 2026. These forecasts formed the backdrop for the measures now announced.
Reorganization into Smaller Teams
Green justified the workforce reduction through an organizational realignment. The company should operate in the future in "smaller pods and smaller scrums, but with greater focus". The company's vision and mission would remain unchanged, Green emphasized in his announcement. He also pointed to financial stability: The Trade Desk has approximately $1.5 billion in cash and is debt-free.
Chris Roth, head of Investor Relations at The Trade Desk, noted during an Evercore ISI investor tour in September 2026 that the company had never "significantly reduced" its cost structure before and there were "significant opportunities" to do so.
Nearly Entire Management Layer Replaced
Alongside the operational downturn, several top executives departed the company. The Chief Finance Officer, Chief Revenue Officer, Chief Strategy Officer, Chief Marketing Officer and four board members left in recent months. The Trade Desk replaced the positions of CFO and CMO and brought in a Chief Commercial Officer and two new board members. Analyst Kramer from Arete Research stated the company had "lost its entire C-level management".
Dispute with Major Customer Publicis Settled
Additionally, a public dispute with French advertising group Publicis Groupe weighed on the business. In March 2026, Publicis notified clients that it no longer recommended The Trade Desk following an independent audit of its fee structure. In June 2026, both companies announced in a joint statement that they had resolved their differences.
Intense Competition in AdTech Sector
The Trade Desk operates in an AdTech market characterized by increasing competition. The company provides a demand-side platform (DSP) – software through which advertisers can automatically purchase digital advertising inventory. The sector faces strong price pressure and technological disruptions, such as changing data protection regulations and the end of third-party cookies.
The combination of stock crash, management departures, weak financial performance and customer disputes marks a turbulent period for the former growth darling. The reorganization now announced aims to increase operational efficiency and put the company back on a growth trajectory.