Once upon a time, Yahoo was a top businesses house in the field of Internet now its process of buying for $4.48 billion has been completed. Verizon Communications Inc said on Tuesday it would buy Yahoo Inc’s core business for $4.48 billion. Along with that one of its Chief Executive, Mérissa Mayer has also left the Yahoo.
On Tuesday, Yahoo sent an email to the employees, for leaving the company, Mayer said, Reuters reports. In a post on Tumblr, she said, “I want to inform everyone that I am full of memories, optimism, nd gratitude”.
Verizon is forming a new venture named Yahoo! AOL. AOL Chief Executive Tim Armstrong would lead the lead the team. He said to the employees, ‘To meet our objectives, the organization needs coordination’.
After the completion of the process of purchase of Yahoo’s main internet business, the telecommunications provider US company has planned to cut 2,100 employees. The truncating workforce is equal to 15 percent of Verizon’s total ownership of Yahoo and AOL. On Thursday, Yahoo’s shareholders approved all the deals related to the sale of Verizon.