1,000 jobs will be cut following the merger between Yahoo! and AOL

by bold-lichterman

  • The merger between AOL and Yahoo! will be effective in the course of next week.
  • This operation will result in a cut of around 15% in the workforce of the two companies brought together under a new entity, called Oath.
  • Verizon negotiated a $ 350 billion rebate to acquire Yahoo! for $ 4.5 billion.

Marriage between AOL and Yahoo! will be done in pain until the end. The merger of the Internet group with AOL will indeed result in a cut of about 15% in the workforce of the two companies brought together under a new entity, called Oath. To date, AOL and Yahoo! bring together nearly 14,000 employees.

This reduction in staff should make it possible to avoid duplicate positions, mainly in departments such as finance, HR or even marketing. The wave of layoffs should come quickly as the merger between AOL and Yahoo! will be effective in the course of next week. Oath, the new structure resulting from this marriage, will be headed by Tim Armstrong, the current boss of AOL. As for Marissa Mayer, she will leave the management of Yahoo! with compensation of $ 23 million.

$ 350 billion in rebates for the acquisition of Yahoo!

The merger between AOL and Yahoo! comes to close the eventful takeover of the firm headed by Marissa Mayer. And for good reason, the revelation of two massive cyberattacks that affected more than 1.5 billion user accounts of Yahoo! has engendered mistrust within the Verizon staff.

The American telecommunications giant has therefore revised its takeover offer downwards. Eventually, Verizon negotiated a $ 350 billion rebate to acquire Yahoo! for $ 4.5 billion. After a gloomy 2016, 2017 has started well for Yahoo. The American firm closed the first quarter of 2017 with a turnover of 1.3 billion dollars, against 1 billion dollars in the same period last year.