(KRON) — In the latest round of pre-holiday tech layoffs, AppLovin Corporation, a Palo Alto-based mobile technology company, has revealed plans to cut 120 jobs. According to a filing on the Unemployment Development Department website, the layoffs are permanent and go into effect Friday.
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All of those impacted worked at the company’s headquarters on Page Mill Road in Palo Alto.
The sudden layoffs come on the heels of a surge in the company’s stock prices. According to Barron’s, AppLovin is now worth $100 billion following a reported 77% surge in stock prices last week.
KRON4.com has reached out to AppLovin Corporation for more information.
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