Truecaller is slashing 70 jobs as the Swedish spam-blocking app faces a 44% drop in ad revenue. The layoffs force executives to cut across the organization.
Advertising dollars are drying up. Truecaller's business model relies heavily on ad placements within its platform, and the decline is squeezing the company hard. The startup went public in 2019 and built its growth strategy around advertising revenue.
The layoffs represent roughly 17% of the company's total headcount. The digital advertising market has become more competitive, with larger players capturing budgets that once flowed to smaller apps. Truecaller, despite its large user base, lost advertiser commitments when market conditions tightened.
The company has not publicly explained the sudden decline in ad revenue. Sources point to a broader pullback by advertisers across the digital space. Whether Truecaller can recover remains unclear.