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
Media Briefing: ‘Cloudflare is locking the door’: Publishers celebrate victory against AI bot crawlers
After years of miserably watching their content get ransacked for free by millions of unidentified AI bot crawlers, publishers were finally thrown a viable lifeline.
How Vogue could navigate potential industry headwinds as Anna Wintour — who agency execs say made ad dollars flow — brings on new edit lead
Anna Wintour’s successor at Vogue will have to overcome the myriad of challenges facing fashion media and the digital publishing ecosystem.
Here are the biggest misconceptions about AI content scraping
An increase in bots scraping content from publishers’ sites represents a huge threat to their businesses. But scraping for AI training and scraping for real-time outputs present different challenges and opportunities.