Verizon-Yahoo deal, a grab for digital-ad cash, approved

Lucy Hill
June 9, 2017

Layoffs are anticipated during consolidation of Yahoo with Verizon, with media reports based on anonymous sources suggesting job losses of 1000 to 1500. The dismissal accounts for less than 20% of the combined companies' total employees.

Verizon's first move with Yahoo: Ditch 2,100 jobs - About 2,100 jobs are on the chopping block as Verizon prepares to combine Yahoo and AOL for a digital advertising offensive.

Verizon will cut around 15 per cent of its AOL and Yahoo staff around the world, once it merges the two into a new company called "Oath".

AOL layoffs are reportedly on the way after the company merges with Yahoo!

Yahoo shareholders voted Thursday to back the sale of the company's internet business to Verizon, clearing the way for the deal to close June 13.

ICC Champions Trophy 2017
The sensor can be attached to any cricket bat to generate data for each individual player. This tweet had termed Bangladesh as pota ( grandson ) and Pakistan as beta ( son ).

Tech news website Recode reported this week that as many as 1,000 jobs could be shed as redundant positions get eliminated at combined AOL and Yahoo operations.

Shares of Yahoo rose more than 10 percent on Thursday amid the news, closing at $55.71. This prompted the company to reduce its sale price by $350 million reducing the final cost to $4.48 billion.

In a statement, an AOL spokesperson said "Oath's strategy is to lead the global brand space".

In February, it was revealed that Yahoo was the victim of two security breaches that compromised the data of more than one billion users. Marissa Mayer, Yahoo's outgoing CEO, stands to make $186 million from the sale.

"Oath's strategy is to lead the global brand space". AOL cut about 500 employees late last year, and Yahoo is down from about 14,000 employees in 2010 to roughly 8,100 as of the end of last year.

Other reports by TheDailyFarc

Discuss This Article