Verizon Expected To Cut Up To 1,000 Yahoo, AOL Jobs After Acquisition

Up to 1,000 layoffs are expected at the combined Yahoo Inc. and AOL companies that Verizon Communications Inc. is in a deal to acquire, according to a report late Wednesday. Those job cuts would account for close to 20% of staff at the combined companies rebranded as Oath, according to Recode, citing unnamed sources. Yahoo has said it expects the acquisition by Verizon to close in June. Yahoo shares were up less than 0.1% at $50.57 after hours, while Verizon shares were unchanged at $46.50.