While it was already announced that it was going to happen, Lalawag is saying that around 600 employees are being laid off, with most notified through the day. Apparently it’s not just product managers getting the axe, but suits as well.
Ex-DoubleClick CEO David Rosenblatt, Google’s president of global display advertising, will leave the company on May 15, according to the NY Times.
AOL’s ad sales dropped by 20 percent in the last quarter, following up on a quarter in which they plummeted 18 percent. Overall, AOL revenue dropped 23 percent, and the company’s says that it “currently anticipates that it would initiate a process to spin off one or more parts of the businesses of AOL to Time Warner’s stockholders, in one or a series of transactions.”