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posted by janrinok on Thursday December 12 2019, @09:04PM   Printer-friendly
from the slow-spiral-of-death dept.

Verizon this week is laying off another 150 staffers from the Verizon Media division that includes the Yahoo and AOL subsidiaries, according to a CNN report.

[...]The latest layoffs are less extensive than a major round of job cuts in January 2019.

[...]Verizon purchased Yahoo for $4.48 billion in June 2017 and AOL for $4.4 billion in June 2015.

[...]In December 2018, Verizon said in a Securities and Exchange Commission filing that it had "experienced increased competitive and market pressures throughout 2018 that have resulted in lower-than-expected revenues and earnings," and that "[t]hese pressures are expected to continue." Verizon at the time recorded a non-cash goodwill impairment charge of about $4.6 billion, wiping out nearly all of the Yahoo/AOL division's goodwill value.

In Q3 2019, the most recent quarter, Verizon reported media-division revenue of $1.8 billion, down two percent year over year.

[...]

Verizon Media CEO Guru Gowrappan said last month that the company is focused on growing the division's advertising, subscriptions, and e-commerce businesses, according to the CNN report.

https://arstechnica.com/information-technology/2019/12/verizon-lays-off-another-150-people-in-struggling-yahooaol-division/


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  • (Score: 0) by Anonymous Coward on Friday December 13 2019, @04:03AM (2 children)

    by Anonymous Coward on Friday December 13 2019, @04:03AM (#931626)

    At one point they were giving out AOL disks at the McDonald's drive through window.

  • (Score: 0) by Anonymous Coward on Friday December 13 2019, @05:56AM (1 child)

    by Anonymous Coward on Friday December 13 2019, @05:56AM (#931649)

    I got free internet from them when I was 15. Got a job doing computers when I was 18, and got an engineering degree when I was 35. I loved those disks. Without them I might not even be alive. But yeah, by 2000 they were what FB is today - walking dead.

    • (Score: 1) by zion-fueled on Friday December 13 2019, @01:58PM

      by zion-fueled (8646) on Friday December 13 2019, @01:58PM (#931691)

      How did the disks even help? They made you sign up with a credit card and after you used it once you couldn't get another free trial. They were just coasters. Free trial was never free.

      If you used someone elses CC you didn't need a free trial either.