Yahoo's parent company has reportedly laid off up to 560 staff members

pulse

November 15, 2017 2:57 PM

The redundancies come a few months after Verizon purchased the internet giant.

Yahoo has had another round of layoffs that affect staff in London and around the world, according to a Business Insider source with knowledge of the situation.

And Digiday reported that the layoffs affected up to 560 people globally.

A spokesperson for Oath (the new entity that houses Yahoo and AOL under corporate parent Verizon) confirmed there had been some changes when Business Insider asked about the redundancies.

"Oath's strategy is to build brands one billion users around the world love," they 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 roadmap. Oath remains committed to building a company talent loves and we continue to hire across our priority business units."

The total number of people affected is unknown but the figure is believed to be in the dozens as opposed to hundreds or thousands. Layoffs have also affected the US operations of Yahoo, we hear.

Those impacted by the layoffs include editorial staff working on platforms like Yahoo Finance, according to the source.

A writer that worked for Yahoo Movies in London told Business Insider that Oath called him approximately four weeks ago to let him know that he was being let go.

Yahoo was acquired by Verizon in June for around $4.5 billion (£3.4 billion). Following the deal, Verizon merged Yahoo with AOL and created a new company called Oath.

Dozens of staff were laid off in Yahoo's London office the day after the Verizon deal went through, according to The Telegraph.

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