http://money.cnn.com/2007/10/15/news/companies/AOL.ap/index.htm?cnn=yes
AOL to cut 2,000 jobs
The 20 percent staff cut adds to the 5,000 layoffs last fall as the Internet company transitions from access provider to online advertising company.
October 15 2007: 12:08 PM EDT
NEW YORK (AP) -- AOL is reducing its global work force by 2,000 employees, or 20 percent, as it continues a transition from Internet access provider to online advertising company.
The latest round of job cuts comes on top of 5,000 positions eliminated last fall, after AOL said it would begin giving away AOL.com e-mail accounts, software and other features once reserved for paying subscribers to boost traffic to ad-supported Web sites.
"This realignment will allow us to increase investment in high-growth areas of the company -- as an example, we added hundreds of people this year through acquisitions -- while scaling back in areas with less growth potential or those that aren't core to our business," AOL Chief Executive Randy Falco told employees Monday.
More at link...
AOL to cut 2,000 jobs
The 20 percent staff cut adds to the 5,000 layoffs last fall as the Internet company transitions from access provider to online advertising company.
October 15 2007: 12:08 PM EDT
NEW YORK (AP) -- AOL is reducing its global work force by 2,000 employees, or 20 percent, as it continues a transition from Internet access provider to online advertising company.
The latest round of job cuts comes on top of 5,000 positions eliminated last fall, after AOL said it would begin giving away AOL.com e-mail accounts, software and other features once reserved for paying subscribers to boost traffic to ad-supported Web sites.
"This realignment will allow us to increase investment in high-growth areas of the company -- as an example, we added hundreds of people this year through acquisitions -- while scaling back in areas with less growth potential or those that aren't core to our business," AOL Chief Executive Randy Falco told employees Monday.
More at link...
