The merger of AOL and Yahoo is expected to bring layoffs across both companies numbering as high as 1,000 jobs, according to sources cited by Recode.
“This action is not unexpected, given that both companies have a lot of redundancies, including in human resources, finance, marketing and general administration,” the story reports. “The merger between the two companies — after Verizon bought both in succession to add tech and content to its mobile services — is expected to be completed in the next week.”
A shareholder meeting was scheduled for today to approve the deal.
“Plans to combine both companies have been in the works for a while, as the pair attempt to make a cohesive unit out of two entities that have multiple assets and also multiple problems,” Recode notes. “It will be headed by AOL CEO Tim Armstrong, who will become the CEO of Oath, the new name for the Verizon subsidiary.”