Verizon will cut around 15 per cent of its AOL and Yahoo staff around the world, once it merges the two into a new company called ‘Oath’.

Citing sources, TechCrunch reports that as many as 2,100 jobs will be lost of the two companies’ combined 14,000 employees. According to these sources, Verizon will not cut equally across AOL and Yahoo, stating one company could see up to 30 per cent of its staff departing.

It is also said that Verizon is not offering any voluntary redundancies, and employees who left in recent months are being paid out to help hit reduction targets.

“Oath’s strategy is to lead the global brand space,” an AOL spokesperson told TechCrunch. “With access to over 1B consumers upon close, we will be positioned to drive one of the most important platforms in the consumer brand space.  Consistent with what we have said since the deal was announced, we will be aligning our global organization to the strategy.”

Verizon agreed to a lower price deal for its acquisition of Yahoo back in February. The long-running buyout saga hit a speed bump when the revelation of two large-scale data breaches at Yahoo put the acquisition in jeopardy.  

Last month, Verizon chairman and CEO Lowell McAdam confirmed that company plans to use Oath to “test out an over-the-top service”. Oath will be headed up by AOL CEO Tim Armstrong.