Yahoo, AOL Staff Reportedly Set To Get 2,100 Pieces Of Bad News
Verizon will reportedly cut roughly 2,100 jobs after the acquisition and merger of Yahoo and AOL is finalized.
The massive terminations are results of consolidating duties of employees with duplicate roles, specifically in departments like human resources, marketing, finance and administration, according to TechCrunch. Roughly 15 percent of the jobs are expected to overlap enough to be considered unnecessary, or redundant.
The employees, however, would be eligible for a substantial payout if they are fired, reports Business Insider.
Verizon announced in July that it would purchase Yahoo, specifically its internet business, for $4.5 billion. The original deal was worth $4.83 billion, but was cut by around $350 million (or approximately 7.24 percent) after Yahoo was hit with multiple, massive breaches. Both instances are believed to be the two largest single cyber thefts ever. (RELATED: Federal Agency To Investigate Yahoo For Taking So Long To Publicize Massive Hack)
The amalgamation of AOL-Yahoo and its concurrent incorporation into Yahoo will also reportedly affect high-level employees and executives.
Yahoo CEO Marissa Mayer, for example, is set to receive around $186 million as part of a compensation package for her likely dismissal. While Yahoo’s reputation as a go-to search engine business has been weakening for some time now (before Mayer ever arrived), she seemed to misguide the company, allegedly focusing on creating new features rather than cybersecurity and cutting costs.
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