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AOL to slash a third of its staff

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Nov 19, 2009 

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Gavin Dunaway  |

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AOL to slash a third of its staff

ADOTAS – Initial reports suggested that layoffs wouldn’t top a grand, but the latest numbers surrounding AOL’s spinoff from Time Warner have the dwindling Internet dinosaur shedding a third of its staff.

AOL is asking for 2,500 volunteers to accept buyouts; layoffs will follow if not enough people sign up to be sacrificed. Currently the company employs 6,900 people after parting with 800 over 2009. In addition to restructuring charges of $200 million, the company aims to slash operating expenses by $300 million.

The company did not mention where layoffs would be implemented; while it’s headquartered in New York, AOL also has a large presence in Northern Virginia.

Tags: AOL, layoffs and Time-Warner

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