HomeInsideOver 800 workers to lose their jobs in Verizon media unit

Over 800 workers to lose their jobs in Verizon media unit

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Verizon Communications Inc is cutting about 7 percent, or about 800 jobs, at its media unit, it said on Wednesday.

The cuts are in addition to a voluntary separation program announced by Verizon in December that will see about 10,400 employees leave by the middle of 2019.

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Verizon Media, formerly called Oath and home to its Yahoo and AOL divisions, had 11,385 employees at end of 2018.

The unit has struggled to improve Verizon’s digital advertising business, which competes with the likes of Facebook Inc and Alphabet Inc’s Google for ad dollars.

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Krishna Mali
Krishna Mali
Founder, CEO & Group Editor of TechGraph.
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