January 23, 2019 Verizon cuts jobs at media unit that includes Yahoo, AOL The Verizon unit that includes Yahoo and AOL—briefly known as Oath—is cutting hundreds of jobs in a restructuring move Verizon is cutting hundreds of jobs from its media division which includes the former internet stars Yahoo and AOL, a source familiar with the matter said Wednesday. The source said the cuts amounting to seven percent of the workforce are being made "to focus the business and realign teams" at the Verizon Media unit, which also includes news sites such as HuffPost, TechCrunch and Engadget. The exact number of cuts was not clear, but the Wall Street Journal said it would amount to around 800 positions at the unit, which was rebranded as Verizon Media after a brief period in which it had been branded as Oath. The unit's chief executive Guru Gowrappan, who took over in October 2018, made the changes after a strategic review which determined the group would prioritize "Yahoo's member-centric ecosystem" along with ad technology and video products. Responded to an AFP query, Verizon Media said in a statement. "Our goal is to create the best experiences for our consumers and the best platforms for our customers. [PUNIQGOOGLESNIPMIX-1
Guru Gowrappan has spent the seven months charting a new course for Verizon Media, the struggling digital media business owned by telecom giant Verizon. But the strategy quickly turned into a nightmare when profits failed to live up to expectations. Originally called Oath, the unit recast itself as Verizon Media.
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