Verizon to cut jobs at Yahoo and AOL

Looks like there will be yet another round of cuts over at Yahoo, this time though it going to be by their new owner Verizon. Verizon will be cutting somewhere in the neighborhood of 2,000 jobs with most of the cuts coming from their Yahoo and AOL divisions. It looks like these cuts will account for around 15% of the two companies total workforce. Reuters has the full story.

Verizon Communications Inc is expected to cut about 2,000 jobs when it completes its $4.48 billion acquisition of Yahoo Inc's core assets next week, a person briefed on the matter said.

The cuts are expected to come from Verizon's AOL and Yahoo units and represent about 15 percent of the staff at the two units. About 14,000 people work at AOL and Yahoo.

Many of the jobs are in California and some are outside the United States, according to the source, who asked not to be identified because the matter is not yet public.