Verizon Communications Inc said it closed its .48 billion acquisition of Yahoo Inc’s core business. Verizon Communications Inc said it closed its .48 billion acquisition of Yahoo Inc’s core business. Verizon Communications Inc said on Tuesday it closed its $4.48 billion acquisition of Yahoo Inc’s core business and that Marissa Mayer, chief executive of the internet company, had resigned. Reuters reported last week that Verizon plans to cut about 2,000 jobs, or 15 percent, of the 14,000 employees at its Yahoo and AOL units. Yahoo cut 15 percent of its workforce last year and AOL cut 500 jobs.

Source: Indian Express June 13, 2017 16:41 UTC