Verizon online unit cutting 'less than 4%' of workforce

November 16, 2017

Verizon's online unit Oath—which includes the AOL and recently acquired Yahoo brands—is cutting several hundred jobs as part of a reorganization, a source familiar with the move said Thursday.

The reductions represent "less than four percent" of the Oath global workforce of an estimated 12,000, according to the source.

The move represents a second round of cuts at Oath since the $4.5 billion acquisition of Yahoo in June.

A statement from Oath offered no details on the numbers or segments facing cuts.

"Oath's strategy is to build brands one billion users around the world love," the company said.

"We're about four months post-close of Verizon's acquisition of Yahoo, and we've made these changes to our team to further align our global organization to our 2018 roadmap. Oath remains committed to building a company talent loves and we continue to hire across our priority business units."

Some media reports said the move would eliminate an estimated 560 jobs in different Oath business units such as advertising and engineering.

Verizon so far has maintained the Yahoo , which has some one billion users worldwide for its email, news and other services.

Yahoo's sale capped a long decline from when it had a peak market value of some $125 billion in 2000.

Explore further: Yahoo signs off, completes sale to Verizon

Related Stories

Yahoo signs off, completes sale to Verizon

June 13, 2017

Internet pioneer Yahoo ended its two-decade run as an independent company on Tuesday, completing the sale of its core online assets to telecom giant Verizon.

AOL plus Yahoo to equal new Oath

April 4, 2017

AOL and Yahoo will be combined into a unit called Oath after telecom titan Verizon buys the pioneering internet firm, according to a tweet Monday by the AOL chief.

Yahoo-Verizon deal set to close June 13

June 8, 2017

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.

AOL Instant Messenger to sign off

October 6, 2017

AOL Instant Messenger, one of the pioneering chat applications of the internet's early days, will be shut down December 15, the company said Friday.

Recommended for you

A decade on, smartphone-like software finally heads to space

March 20, 2019

Once a traditional satellite is launched into space, its physical hardware and computer software stay mostly immutable for the rest of its existence as it orbits the Earth, even as the technology it serves on the ground continues ...

Tiny 'water bears' can teach us about survival

March 20, 2019

Earth's ultimate survivors can weather extreme heat, cold, radiation and even the vacuum of space. Now the U.S. military hopes these tiny critters called tardigrades can teach us about true toughness.

Researchers find hidden proteins in bacteria

March 20, 2019

Scientists at the University of Illinois at Chicago have developed a way to identify the beginning of every gene—known as a translation start site or a start codon—in bacterial cell DNA with a single experiment and, through ...

Turn off a light, save a life, says new study

March 20, 2019

We all know that turning off lights and buying energy-efficient appliances affects our financial bottom line. Now, according to a new study by University of Wisconsin-Madison researchers, we know that saving energy also saves ...

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.