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…
- Here’s what streaming companies revealed in their compliance reports for Oct 2022 December 2, 2022
- FRT-based Digi Yatra project begins in three Indian airports on opt-in basis December 2, 2022
- Spotify CEO calls Apple “Shameless” For Engaging In Anti-Competitive Practices December 2, 2022
- Madhya Pradesh HC Grants State Government 3 Months to Draft and Clear Online Gambling Law: Report December 2, 2022
- Meta’s Nick Clegg Flags Encryption Concerns, Praises India’s Stance On Cross-Border Data Flow December 2, 2022
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
The Structure and Style of a Dogma Community: Conspiracy theories and organized Twitter engagement on Sushant Singh Rajput
Studying the 'community' supporting the late Sushant Singh Rajput (SSR) shows how Twitter was gamed through organized engagement
Do we have an enabling system for the National Data Governance Framework Policy (NDGFP) aiming to create a repository of non-personal data?
A viewpoint on why the regulation of cryptocurrencies and crypto exchnages under 2019's E-Commerce Rules puts it in a 'grey area'
India's IT Rules mandate a GAC to address user 'grievances' , but is re-instatement of content removed by a platform a power it should...
Why ‘group privacy’ should be recognised, and how ‘non-personal’ data becomes a regulatory blindspot
There is a need for reconceptualizing personal, non-personal data and the concept of privacy itself for regulators to effectively protect data
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...