Join us Sept. 14-16 in Miami to connect with top publishing leaders
More cuts are coming to Oath. The entity that houses Yahoo and AOL is in the process of laying off up to 560 people today following Yahoo’s June acquisition by Verizon. That represents slightly less than 4 percent of Oath’s global employee count of 14,000. Among those people were staffers at Yahoo Finance in the U.K., but the cuts apparently aren’t concentrated in a specific brand or geography.
A spokesperson for Oath sent over a statement that read: “Oath’s strategy is to build brands one billion users around the world love. We’re about four months post-close of Verizon’s acquisition of Yahoo, and we’ve made these changes to our team to further align our global organization to our 2018 roadmap. Oath remains committed to building a company talent loves and we continue to hire across our priority business units.” The rep wouldn’t comment further on how the cuts were distributed.
Verizon in June completed its $4.48 billion acquisition of Yahoo’s assets, which were combined with AOL brands including the HuffPost (formerly The Huffington Post) under a new subsidiary called Oath. Oath laid off 2,100 of its staff after the deal closed, or 15 percent of the workforce.
More in Media
Molson Coors ditches its TV-era workflow to move at creator speed, quadrupling engagement
Molson Coors partnered with Movers+Shakers’ new consultancy group to completely overhaul its approach to creators, and it’s working.
Media Briefing: Publishers are rebuilding their newsrooms for the post-Google era
Publishers like USA Today Co. and NYT are reshaping audience teams and creating new roles to prepare for an AI search future.
How 11 retail media networks are trying to differentiate themselves to advertisers
With the launch of myriad retail media networks, these new divisions of various consumer-facing companies are now fighting for ad dollars.