https://apnews.com/be70738a2e2b422d8ccbd1c4c0b0fe21

NEW YORK (AP) — Verizon is cutting about 800 jobs, or 7 percent of its media and advertising employees, as it reorganizes the troubled division.

The wireless company had hoped to create an ad business that could compete with Google and Facebook. It spent roughly $10 billion buying up former Internet pioneers Yahoo and AOL . But Verizon found benefits from integrating those two companies were less than expected. The company slashed the value of its media unit by nearly $5 billion in December.