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Verizon to buy Yahoo for $4.48 bn, cut 2000 jobs after acquisition

Yahoo shareholders on Thursday approved the company's sale


Verizon Communications Inc is expected to cut about 2,000 jobs when it completes its $4.48 billion acquisition of Yahoo Inc's core assets next week, a person briefed on the matter said. The cuts are expected to come from Verizon's AOL and Yahoo units and represent about 15 percent of the staff at the two units. Many of the jobs are in California and some are outside the United States, according to the source, who asked not to be identified because the matter is not yet public. Yahoo shareholders on Thursday approved the company's sale, according to preliminary ...

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First Published: Fri, June 09 2017. 04:11 IST