Jan 16 (Reuters) - IAC unit Dotdash Meredith

will lay off 143 employees, or about 4% of its workforce, under

a plan to focus on growing its advertising business, the

publisher said on Thursday.

Many traditional media companies have been looking to focus

on more profitable operations as rising competition from digital

media firms and a volatile ad market threaten their businesses.

Home to more than 40 brands such as financial media website

Investopedia and the Food & Wine magazine, Dotdash is the

biggest U.S. digital and print publisher.

"We will be significantly increasing investment in projects

that help us connect directly with our audiences and connect

directly with our advertisers, which we believe are our biggest

opportunities," said Dotdash CEO Neil Vogel.

Media and internet holding company IAC on Monday announced

plans to spin off its majority stake in home services unit Angi ( ANGI )

, as it looks to focus on the growth of Dotdash, its

largest business.

Dotdash grew its headcount by 170 employees in 2024 and

expects to do the same this year, Vogel said.

In November, Associated Press also laid off 8% of its

workforce as it looks to modernize its operations and products.

Earlier this month, storied newspaper The Washington Post

said it would lay off about 4% of its workforce, or less than

100 employees, in a bid to cut costs.

(Reporting by Kritika Lamba in Bengaluru; Editing by Devika

Syamnath)