Layoffs Could Total 1,000 as AOL and Yahoo Complete Merger - NBC Chicago
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Layoffs Could Total 1,000 as AOL and Yahoo Complete Merger

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    Layoffs Could Total 1,000 as AOL and Yahoo Complete Merger
    AP Photo/Richard Drew
    AOL CEO Tim Armstrong is interviewed during "Opening Bell with Maria Bartiromo," on the Fox Business Network, in New York on Dec. 3, 2014.

    Layoffs are expected to take place across AOL and Yahoo that could number up to 1,000 jobs, or 20 percent of the combined company, sources told Recode.

    The merger between the two companies — after Verizon bought both in succession to add tech and content to its mobile services — is expected to be completed in the next week. The shareholder meeting to approve the deal takes place tomorrow.

    The layoffs were expected, given that both companies have a lot of redundancies, including in human resources, finance, marketing and general administration.

    CNBC's parent NBCUniversal is an investor in Recode's parent Vox, and the companies have a content-sharing arrangement.