Less than 24 hours after The Trade Desk announced it was cutting 15% of its global workforce, it has been revealed that the company will be removed from the S&P 500. S&P announced the change as part of its quarterly index update.
The move will go into effect before trading starts on September 21.
Why This Matters:
TTD joined the S&P 500 in July 2025, making its stay in the index relatively short-lived.
The news, of course, comes amid a broader reset at TTD. Earlier today, CEO Jeff Green announced the company would layoff 15% of its employees globally, with the goal of creating smaller teams with greater “agility, focus, ownership, and speed.” The cuts follow smaller reorgs in December 2024 and December 2025.
All of this comes after a difficult Q2 earnings report. Last month, TTD reported revenue growth of just 3% year over year, while adjusted EBITDA fell to $241 million from $271 million. At the time, Green acknowledged that the quarter “did not meet the standard we set for ourselves.”
Experts React:
The news was buried in a broader release from S&P, but it has been making the rounds on X:
Our Take:
Obviously, the S&P decision and restructuring landing on the same day makes for a rough September 4th for the company. In general, it feels like a capper to a tough and unpredictable few months for publicly-traded adtech businesses.
The open web DSP is trying to reset the narrative around its business, betting on a leaner organization and greater focus on AI to drive its next phase of growth. Will it work for TTD? Fingers crossed, TBH. Results are TBD.
