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2100 jobs to be cut across Yahoo-AOL after Verizon deal is finalised

Following approval of Verizon's $4.5 billion acquisition of Yahoo's core internet operations by Yahoo stockholders, the company will be cutting 15% of the 14,000 strong workforce, or about 2,100 jobs, across Yahoo and AOL globally, reports TechCrunch. Yahoo will be merged with Verizon's AOL unit and and rebranded as Oath, with AOL CEO Tim Armstrong heading it. This was first reported by Recode, though at the time it had reported that up to 1000 jobs will be cut. In February last year, Yahoo had cut 15% of its workforce, about 1,700 jobs, and exited five offices in Dubai, Milan, Madrid, Buenos Aires and Mexico City. Following this, Yahoo’s headcount reduced to about 9,000 employees and 1,000 contractors. While across 2015 the company had cut about 1,100 jobs, including 100-200 in February 2015, after Yahoo India laid off over half of its editorial team based in Bangalore and about 35% of its editorial staff in Canada, 300 in March 2015, after shut down of its office in Beijing, and 600 in October 2015 at Yahoo's Software Development Centre in Bangalore, as a part of its worldwide team consolidation. Whereas, AOL had pulled the plug on its India property AOL.in in 2011, following massive layoffs earlier in the year. Eventually in 2015, Verizon acquired AOL in a $4.4 billion all cash deal. Post acquisition, AOL became a wholly owned subsidiary of Verizon, while Armstrong continued to lead the company. It's worth noting that at the time, Armstrong mentioned to CNN that there would be no job cuts (at AOL). Trouble…

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