Verizon’s acquisition and merger of AOL and Yahoo will result in many job cuts. According to Recode, up to 1, 000 AOL and Yahoo jobs are expected to take place across the two companies as the merger is completed. From the report: This action is not unexpected, given that both companies have a lot of redundancies, including in human resources, finance, marketing and general administration. The merger between the two companies — after Verizon bought both in succession to add tech and content to its mobile services — is expected to be completed in the next week. The shareholder meeting to approve the deal takes place tomorrow. Plans to combine both companies have been in the works for a while, as the pair attempt to make a cohesive unit out of two entities that have multiple assets and also multiple problems. It will be headed by AOL CEO Tim Armstrong, who will become the CEO of Oath, the new name for the Verizon subsidiary. Read more of this story at Slashdot.
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Verizon Expected To Cut Up To 1,000 Yahoo, AOL Jobs After Acquisition