Global digital media adtech company Adform has reportedly cut its global workforce by eight per cent. The Denmark-based company has made a number of redundancies across various tiers of the company, including at senior executive level. The cuts are thought to affect just under 70 people.

Amongst those on the way out is Martin Stockfleth Larsen, who has stepped down as CMO. He spent five and a half years with the company – during which time, the company from an 80 person team to a global staff of more than 800 spread across 20 offices.

Adform’s CRO Jay Stevens, speaking to The Drum, said the measures were aimed at continuing company growth more efficiently, as well as being ‘more judicious in how invested’.

Stevens added that due to little outside investment and bootstrapping of expansion over the last decade, the “rightsizing exercise maintains its ethos of fiscal prudence and gives the company a solid financial position”. He went on ensuring that the company remained committed to “realising the vision of its enterprise-class full stack offering (ad server/DSP/DMP) and providing the superior level of client service that is its hallmark”.