Verizon to slash 2,000 Yahoo and AOL jobs

Yahoo's shareholders have approved the $4.8bn (£3.8bn) sale to Verizon but the new parent company reportedly plans to cut 2,100 jobs from Yahoo and AOL when the deal is finalised.

CNBC reported based on sources that brands in the new combined media entity, to be named Oath, could lay off 15% of the workforce. 

When asked, AOL told CNBC that Oath would be aligning its global organisation to its plans to "drive one of the most important platforms in the consumer brand space". 

After the media entities are combined, AOL estimates that Oath will reach around one billion consumers. 

A spokesman for AOL issued Campaign the following statement: "Oath’s strategy is to lead the global brand space. With access to over 1B consumers upon close, we will be positioned to drive one of the most important platforms in the consumer brand space. Consistent with what we have said since the deal was announced, we will be aligning our global organisation to the strategy."

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