09 June, 2017
Yahoo! expects that the deal will close on June 13.
Following the merger, AOL and Yahoo will be rebranded as "Oath," with AOL CEO Tim Cook at the helm.
According to sources, layoffs are expected to take place across AOL and Yahoo that could number up to 1,000 jobs.
Verizon is reportedly planning to cut up to 2,100 jobs as it combines AOL and Yahoo.
Oath is expected to be Verizon's new company overseeing Yahoo and AOL, including more than 20 brands.
Crosby scores, Malkin shoots yet Penguins lose 4-1 to Preds
With 3:23 left, Nashville sealed the victory with Filip Forsberg's empty-net goal, as "Rocky Top" played in Bridgestone Arena. Still, people filled three blocks of Broadway, even with Nashville opening up a downtown amphitheater for fans to watch.
Walmart asking employees to deliver online orders
The app can alert an associate when there's an order destined for a location that's on his or her way home. The delivery destinations will be close to where a worker lives or on the way to that person's home.
Drugmaker rejects lawsuit over opiate sales
People who take prescription painkillers can get addicted, and some turn to drugs like heroin when their prescriptions run out. Joe Schiavoni of Boardman sent DeWine a letter asking him to seek damages to pay for addiction treatment.
In unrelated news, Yahoo also voted today to approve the final compensation for its executive team.
Verizon - the parent company of AOL - announced it would scoop up Yahoo last July for almost $5 billion. That means the remainder company, to be renamed Altaba, will become an investment vehicle reflecting the Alibaba investment when the Verizon deal closes on June 13th. The security incidents forced Yahoo back to the negotiating table, and the two sides agreed to lop off $350 million from the price. Verizon Communications pre-estimates to have 1.3 billion users and $7 billion in sales from the combined AOL and Yahoo.
Armstrong has been upfront that there will be layoffs. "Consistent with what we have said since the deal was announced, we will be aligning our global organization to the strategy". TechCrunch reports that 14,000 employees now work at AOL and Yahoo.
Citing sources, TechCrunch reports that as many as 2,100 jobs will be lost of the two companies' combined 14,000 employees.