According to sources, layoffs are expected to take place across AOL and Yahoo that could number up to 1,000 jobs. That is less than 20 percent of the combined company, according to sources.
As the merger is completed, layoffs of up to 1,000 jobs at the combined AOL and Yahoo are expected
As the troubled deal is finally culminated, it’s time for cuts.
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.
I have calls in to all kinds of spokespeople and await some sort of comment.
This article originally appeared on Recode.net.
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