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
Why brands are bringing creators to the World Cup sidelines
Brands are bringing creators to the World Cup sidelines to boost engagement, tap into new audiences, and be a part of the cultural conversation.
Media Briefing: ‘Surveillance pricing’ laws are coming for dynamic subscription strategies
How a ‘surveillance pricing’ lawsuit and new New York legislation could reshape publishers’ subscription pricing strategies.
How Time and others are rebuilding parts of the web for AI agents
Publishers are preparing for the agentic web by creating AI-friendly versions of their sites to stay discoverable in AI search.