Perion(US:PERI) Investor Place·2024-06-26 16:48Core Viewpoint - Perion Network is implementing layoffs to streamline operations due to a significant reduction in revenue from its partnership with Microsoft, which has changed its advertising revenue model for the Bing search engine [2][5]. Group 1: Layoffs and Workforce Impact - Perion Network is cutting 35 jobs from its Israeli search division, which represents 15% of its workforce in that country [5]. - The layoffs are part of a broader trend as companies respond to increased inflation and high interest rates by reducing costs [3]. Group 2: Revenue Changes - Prior to Microsoft's changes, a substantial portion of Perion Network's revenue was derived from its collaboration with Microsoft, but this now accounts for less than 5% of the company's revenue [2]. - The changes in Microsoft's advertising strategy have had a ripple effect, impacting not only Perion Network but also other Bing search partners [3]. Group 3: Market Reaction - Following the announcement of layoffs, Perion Network's stock (PERI) saw a slight increase of close to 1% [6].