Headed by Armstrong, the Yahoo assets, which include Yahoo Finance, will be combined with AOL brands such as the Huffington Post under a new subsidiary called Oath.
"It's mainly focused on us putting more resources toward the front end, towards the consumer side," Armstrong, who will be Oath's CEO, said on CNBC's "Squawk Box." "Those are mainly happening this week. We're trying to get everything done that we can."
"This week is people week," Armstrong said. Oath will focus on getting clarity about the job impacts. The layoffs are roughly 15 percent of the unit, he said.
In terms of the deal, Armstrong also mentioned that Verizon will start to load a product called App Flash, which will carry Yahoo and AOL brands on Verizon phones. He added that the company will not put things on phones that don't make sense.
"But consumers have a choice," he said. "You can essentially load whatever service you want on your phone. We will have consumer choice at the center of what we are doing."
Disclosure: CNBC has a content-sharing partnership with Yahoo's finance site.