- The advertising agency BENlabs has restructured and laid off staffers.
- It announced plans to focus on product placement, influencer marketing, and the creator platform TubeBuddy.
- The company also named a new CEO to help lead the restructuring.
The advertising agency BENlabs has laid off staffers and appointed a new CEO as part of a restructuring, the company announced on Tuesday.
The company said the restructuring would focus its business on three core areas: product placement, influencer marketing, and the creator-analytics platform TubeBuddy.
"This change is a return to our client-centric roots, enabling us to concentrate on how we can uniquely assist both brands and creators in reaching their target audiences more effectively and efficiently through content and entertainment," the company said on LinkedIn.
Ted Sheffield was appointed to lead the new structure as CEO, replacing Ricky Ray Butler, who had been the chief executive since 2018. Sheffield has been with the company for more than 12 years and previously served as its chief operating officer and general counsel.
The company also said in the LinkedIn announcement that it had reduced its workforce. BENlabs didn't respond to a request for comment from Business Insider about the scale of the layoffs.
BENlabs has established itself as a leading influencer-marketing firm. The company uses artificial-intelligence technology to help match brands with content creators. In 2020, it acquired the creator-economy startup TubeBuddy, which YouTube creators use to grow their channels.
As part of the new structure, BENlabs is also set to be led by Erin Schmidt, the general manager of product placement; Jake Maughan, the general manager of influencer marketing; and Tyler Folkman, the general manager of TubeBuddy and chief technology officer.
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