AOL to Lay Off 10% of Workforce
Time Warner’s AOL unit is laying off 700 staffers, or about 10 percent of its workforce, as the Internet division narrows its focus on three core areas and tries to weather the recession, which has also hit online advertising.
In addition, AOL is forgoing merit pay increases this year, curbing discretionary spending and concentrating investments on key growth areas.
It is the latest rounds of job cuts at AOL as CEO Randy Falco and his team continue to refocus the business.
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