AppLovin's recent stock market surge, gaining over $41 billion in just two days, doesn't prevent the company from announcing mass layoffs, impacting over 120 employees.
The cuts affect a mix of roles, including three vice presidents and over two dozen engineers, indicating possible shifts in AppLovin's focus amidst its soaring market value.
Despite significant gains of over 600% since January, CEO Adam Foroughi emphasized the importance of a lean business team, underscoring a cautious approach to investments.
The company's WARN filing suggests that AppLovin is positioning itself for future growth strategies while dealing with stagnation in its mobile gaming segment.
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