×
You will be redirected back to your article in seconds

Verizon’s Oath Is Laying Off Around 500 AOL, Yahoo Employees

The Oath does not include a guarantee of employment.

Verizon’s Oath internet-media division is cutting more jobs, with the latest round of layoffs affecting around 500 staffers from the former AOL and Yahoo brands. That represents 4% of its total global headcount of approximately 12,000.

The pink slips are on top of the roughly 2,100 jobs eliminated in June at Oath, a 15% reduction in force, following Verizon’s closing of the $4.5 billion deal for Yahoo.

In a statement, an Oath rep said, “We’re about four months post-close of Verizon’s acquisition of Yahoo, and we’ve made these changes to our team to further align our global organization to our 2018 road map.” At the same time, the rep said, Oath will continue to hire “across our priority business units.”

The cutbacks, which span  multiple regions and departments, show that Oath is still in consolidation-and-streamline mode. Execs have touted the AOL-Yahoo combo as pooling brands that reach 1 billion monthly users, but the nitty-gritty details of stitching those together into a well-oiled machine is another matter.

Tim Armstrong (pictured above), the former AOL boss who is now Oath’s CEO, has set a target of reaching 2 billion consumers by 2020. The positioning to marketers is to provide a high-scale alternative to Google and Facebook, the two behemoths of online advertising. Oath’s brands are “trusted places to do marketing,” Armstrong told reporters at Cannes Lions this summer: “We are probably the single largest, cleanest source of consumer traffic and data.”

The Oath media and tech brands include AOL.com and Yahoo.com, HuffPost, Yahoo Sports, Yahoo Finance, TechCrunch, Engadget, MAKERS, Tumblr, Build Studios, Yahoo Mail, Moviefone, Flickr and Verizon Digital Media Services.

According to Oath’s marketing website, the new name for the group — which was mocked when it was announced this spring — “represents the commitment we’ve made to building brands and it honors the promises we make to each other, our partners, clients and the world every day.”

The cuts at Oath come as Marni Walden, Verizon’s EVP and president of global media who led the telco’s takeover of Yahoo, is exiting the company in February 2018. She’ll step away from day-to-day management at the end of 2017.

More Digital

  • JUMP camera

    Google Is Shutting Down Its Jump VR Video Program

    Google will shut down Jump, its cloud-based video stitching service, this summer. The company emailed creators Friday afternoon to tell them that Jump would be shuttered on June 28, and detailed plans for the shut-down on its website as well. In its email, Google justified the closure of Jump with the emergence of new video [...]

  • Relix Live Music Conference

    Relix Live Music Conference Puts Spotlight on Gender Parity, Privacy

    The third annual Relix Live Music Conference took place at New York’s Brooklyn Bowl earlier this week. The two-day confab, which featured panels and Q&As by executives from such companies as Live Nation, Q Prime, SiriusXM, Bowery Presents, Glassnote Music, Shorefire Media and Splice, among many others, offered a fascinating and honest look at the [...]

  • Spotify Tests 'Car Thing' Audio Adapter

    Spotify Starts Testing In-Car Hardware

    Spotify is carefully taking a first step into the consumer hardware space: The company has begun to test a new in-car device that lets users access music and podcasts with voice commands, it revealed in a blog post Friday morning. “Car Thing,” as the device is being called for now, is only being tested in [...]

  • Hannah-Hart-BuzzFeed-Tasty-Edible-History

    BuzzFeed's Tasty Taps Hannah Hart for Food-History Show on Facebook Watch

    YouTube star and food fanatic Hannah Hart is combining her passions for cuisine and history in a new series for BuzzFeed’s Tasty on Facebook Watch. The eight-episode show, “Edible History,” premieres Sunday, May 19, at 8 a.m PT, on BuzzFeed’s Tasty Presents show page on Facebook Watch, with episodes released weekly. In each episode (7-12 [...]

  • YouTube Music

    Songza Co-Founders Have Left YouTube Music Ahead of Google Play Music Shut-Down

    The three co-founders of Songza, a music curation startup acquired by Google in  2014, have left YouTube Music, Variety has learned. Former Songza CEO Elias Roman, former chief product officer Elliott Breece and former chief operating officer Peter Asbill all quietly transitioned to new positions at Google’s startup incubator Area 120 in March. A YouTube [...]

More From Our Brands

Access exclusive content