Yahoo (YHOO) has provided its employees with an FAQ about the $4.83B deal with Verizon (VZ), under which Verizon will buy the operating business assets of Yahoo.
Yahoo says that the sale to Verizon will include all assets and liabilities of Yahoo's operating business "including our products, brands, and worldwide offices and business operations other than assets and liabilities identified as Excluded Assets or Retained Liabilities."
Regarding potential layoffs, Yahoo says "At this time, Yahoo is not planning any layoffs in anticipation of the transaction closing. Prior to the transaction closing, we will continue to operate our business independently, focus on achieving our corporate goals and manage employee performance in the ordinary course of business."
After the transaction closes, "That is a decision for Verizon. However, you will remain eligible for the severance benefits that apply to you described in Yahoo's Change in Control Employee Severance Plan for a period of 12 months -- 24 months in certain international jurisdictions -- after the transaction closes."
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