Adtech companies AdRoll, Rubicon Project and AppNexus have all reduced the number of names their payrolls in recent months.

The most recent announcement comes from AdRoll, which has sacked around 29 employees representing about 5 per cent of its headcount, despite revenue growth in 2016.

It’s CEO pitched the news as a resource reallocation – a similar story to it peers who have also thinned their ranks in recent times.

AdRoll CEO Aaron Bell told Fortune, “During our annual planning process, we made prioritisation decisions to focus on the growth areas that we’re most excited about. This led to a small number of roles being eliminated.”

“We also opened other new roles, and there was no personnel impact in R&D. We saw record-breaking revenue in 2016 and these changes will support our ambitious growth plans for 2017 and beyond,” he said.

During its earnings announcement last month, Rubicon Project confirmed it had laid off 19 per cent of its staff, 125 people in total. The company said  the cuts were necessary to “focus on key growth areas, better match the company’s cost structure with its growth rate, and instill greater discipline around cost efficiency.”

The layoffs are expected to reduce future employee-related costs by $18 million annually. Aside from the job cuts the company said it had found operational initiatives to save another $12 million annually.

During an earnings call with analysts Frank Addante, CEO and Founder of Rubicon Project, said the cost cutting measures were “offensive, not defensive.”

“As expected, Q3 was a challenging quarter for both our industry and our business in particular and we still have work to do to deliver the revenue growth that we know our business is capable of generating. We remain confident that the strength of our premium technology platform, our global marketplace and strong balance sheet uniquely position us to win in the market and we expect these strengths to propel our business to stronger long term growth in 2017,” Addante said.

Earlier this year WPP-backed AppNexus cut 150 jobs – around 13 per cent of its staff – after closing a $31 million strategic investment round, which included a $10 million injection from News Corp. The Wall Street Journal has reported AppNexus confidentially filed for an IPO in November, seeking a valuation between $1.5 billion and $2 billion.

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