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Verizon expected to lay off 2,000-plus employees

Verizon expected to lay off 2,000-plus employees
Posted at 7:41 AM, Jun 09, 2017
and last updated 2017-06-09 04:45:09-04

(CNN) - Thousands of tech employees are one step closer to losing their jobs.

On Thursday, Yahoo shareholders approved an agreement for Verizon to buy Yahoo's core internet assets for nearly $4.5 billion. That's according to preliminary results from a special shareholder meeting.

The deal is expected to close Tuesday.

Yahoo and AOL will form a new company under Verizon called "Oath."

A source familiar with the matter says Verizon expects to cut up to 2,100 employees, which is roughly 15 percent of the staff.

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