ShareThis Page
Verizon cutting about 800 jobs in troubled media business | TribLIVE.com
U.S./World

Verizon cutting about 800 jobs in troubled media business

The Associated Press
| Wednesday, January 23, 2019 4:55 p.m
669749_web1_gtr-verizonCuts-012319
People walk by a Verizon store in May 2017 in New York. Verizon is cutting about 7 percent of the staff in its media division. (AP Photo/Bebeto Matthews, File)

NEW YORK — Verizon is cutting about 800 jobs, or 7 percent of its media and advertising employees, as it reorganizes the troubled division.

The wireless company had hoped to create an ad business that could compete with Google and Facebook. It spent about $10 billion buying up internet pioneers Yahoo and AOL, but Verizon found benefits from integrating those two companies were less than expected. The company slashed the value of its media unit by nearly $5 billion in December.

The new CEO of Verizon’s media division, Guru Gowrappan, informed employees of the layoffs in an email Wednesday. He says the division’s priorities will include focusing on mobile and video products and stemming declines with desktop users.



Categories: Business | Wire stories
TribLIVE commenting policy

You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.

We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.

While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.

We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers

We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.

We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.

We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.

We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.