Verizon plans to cut 10 percent of Oath staff [telecom]

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The cuts come in the wake of Verizon's decision to slash the value of the Oath properties, which include AOL and Yahoo, by $4.5 billion.

By Dylan Byers

Verizon chief Hans Vestberg has set in motion a plan to start cutting more than 1,000 jobs at the company's Oath media business in the first quarter of 2019, sources with knowledge of the company's plans tell NBC News.

Roughly 10 percent of Oath's 11,500 workforce will be cut, according to one person who spoke on the condition of anonymity because they were not authorized to speak publicly. Team leaders across the Oath properties, which also include HuffPost, have been asked to submit the names of employees who will be offered buyouts.