Verizon plans to cut about 2,000 jobs at Yahoo, AOL: source | Reuters

Verizon Communications Inc (VZ.N) is expected to cut about 2,000 jobs when it completes its $4.48 billion acquisition of Yahoo Inc's (YHOO.O) 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, said 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 results from a shareholder meeting.

(Reporting by David Shepardson; Editing by Jeffrey Benkoe)

This story has not been edited by Firstpost staff and is generated by auto-feed.


Updated Date: Jun 08, 2017 23:15 PM

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