Verizon to Lay Off 2,100 Employees After Finalizing Yahoo Deal -<br />By VINDU GOELJUNE 8, 2017<br />SAN FRANCISCO — Verizon plans to lay off 2,100 people once it completes its acquisition of Yahoo’s internet business on Tuesday.<br />The sting will be soothed a bit for some of the Yahoo employees who lose their jobs: A 10 percent surge<br />in the company’s share price on Thursday enhanced the value of their accumulated stock compensation.<br />The layoffs, which were described by a person briefed on Verizon’s plans, represent about 15 percent of the work force at Yahoo<br />and AOL, the Verizon unit with which it is to be combined.<br />Based on the increased stock price, Ms. Mayer will depart with $264 million for her five years of work at Yahoo, up from $239 million last Friday<br />After the deal’s close on Tuesday, the remainder of Yahoo will be renamed Altaba<br />and will hold the cash from the sale as well as Yahoo’s significant stock holdings in Alibaba Group and Yahoo Japan.<br />During the five years that Marissa Mayer, the chief executive, has led the company, its work force dropped by 46 percent.
