Verizon Lays Off 800 Employees Within ‘Media Group’, Comprising Yahoo, Tumblr, More

BuzzFeed isn’t the only digital giant for whom layoffs are forthcoming.

Verizon will slash about 7% of its Media Group amid missed revenue goals, reports The Wall Street Journal, amounting to roughly 800 staffers. (Globally, Verizon Media Group comprises roughly 11,385 employees).

The \Media Group, headed up by former Alibaba exec Guru Gowrappan, comprises Yahoo, Tumblr, AOL, HuffPost, TechCrunch, Engadget, and more. The cuts are occurring after a monthlong review, according to the Journal, and Gowrappan told staffers in a memo that, going forward, the Group would narrow its focus on mobile and video-based products — with a stated emphasis on its Yahoo-branded entertainment and news platform. The company is also considering vending memberships for its various properties, per the Journal.