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• Martech firm NextRoll laid off just under 3% of employees.
• The company's sales and recruiting teams were most impacted, according to a source.
• The cuts come amid a growing number of layoffs for marketing and advertising tech companies.

NextRoll, a tech firm that primarily works with small and midsize brands to run marketing campaigns, has laid off just under 3% of employees, a company spokesperson confirmed Friday.

The cuts affected NextRoll's sales and recruiting teams, according to a source with knowledge of the cuts. NextRoll has 874 current employees, according to the company's LinkedIn page.

The cuts come after NextRoll laid off 30% of its staff and instituted paycuts in early 2020 due to the pandemic.

NextRoll's business has changed over the past few years. It launched as AdRoll in 2006 and sent ads to people about products they'd researched online, a practice called retargeting. It rebranded to NextRoll in 2019 to expand beyond advertising tech and into marketing tech. NextRoll's services include a business-to-business arm called RollWorks and an advertising arm called AdRoll that pitches digital ads and email services to direct-to-consumer brands.

NextRoll is the latest company in the adtech and martech industries to institute layoffs, which are increasing as companies gird themselves for an economic slowdown. Software firm Sprinklr recently laid off more than 50 people, mobile adtech firm AppLovin laid off 300 workers, and event tech company Bizaboo laid off 120 employees.

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