TechCrunch: Verizon to cut 15% of combined AOL/Yahoo staff

|By:, SA News Editor

Verizon (VZ -0.5%) will cut about 15% of its combined AOL/Yahoo (YHOO +6.5%) staff after it closes on the Yahoo acquisition, TechCrunch reports.

That would mean some 2,100 job losses, higher than previously expected, based on about 14,000 combined employees across the operations.

The cuts won't be evenly distributed: A source told TechCrunch that they could vary from 30% from down to 5%.

No voluntary redundancies are being offered, the report says, but employees who left in recent months are being paid out to help hit targets.

Subscribe for full text news in your inbox