It should not come as a surprise that Verizon announced it plans to lay off 15% of the combined workforce of AOL and Yahoo once the $4.5 billion deal for Yahoo’s web assets closes.
AOL-Yahoo have close to 14,000 employees, around 2,100 jobs are set to be eliminated. TechCrunch (owned by AOL) first reported the 15% layoff figure.
As part of the acquisition, Verizon plans to rebrand AOL-Yahoo to Oath and focus on content such as news, sports, finance, entertainment, and lifestyle.
Unfortunately this does mean the cuts will impact employees of both AOL Canada and Yahoo Canada according to multiple sources.