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Tim Armstrong confirms Yahoo layoffs—also, Marissa Mayer is officially out

Verizon completed its Yahoo acquisition today, and AOL CEO Tim Armstrong talked with the Wall Street Journal about his plans for the company. Yahoo is merging with AOL, and being renamed Oath—all for the cheap price of $4.6 billion.

Armstrong talked about how Oath will be integrated into both AOL and Verizon’s strategic plan, along with what is happening at the moment. The executive confirmed that Marissa Mayer is resigning from the company, as well as reporting that Verizon is cutting 2,100 jobs as part of the acquisition. You can read the full Wall Street Journal interview here. CGW