A Thousand Layoffs? Make That 2,500
Remember when we said AOL would be cutting 1,000 people from its ranks? That number is more like 2,500, reports Peter Kafka at MediaMemo. The company is aiming to reduce its staff by a third, to drop its operating expenses by $300 million.
To that end, AOL CEO Tim Armstrong is asking for volunteers to accept a buyout; employees have between Dec. 4 and Dec. 11 (post-spinoff) to decide if they want to accept. If the company doesn’t get enough volunteers, it’s layoff time.
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