AOL Plans to Ax 2,300 Employees

AOL Inc., the struggling Internet company, plans to cut about a third of its workers if its planned spinoff from Time Warner Inc. goes through.

That would amount to nearly 2,300 of the roughly 6,900 total employees.

In a securities filing Thursday, AOL said it will impose the cuts on a voluntary and involuntary basis, hoping to trim annual costs by about $300 million.

The job cuts still need approval from the new AOL board. Time Warner, the New York media conglomerate, said this week that it will spin AOL off to investors Dec. 9.

AOL, which is based in New York but also has major operations in Northern Virginia, said it will take about $200 million in charges for severance and other costs related to the restructuring.

[bubbadubba]

"AOL Plans to Ax 2,300 Employees"

How horrible, 2,300 people chopped to death with an axe. Think of all the blood and guts in their offices. Horrible.
Ax does have an "e" doesn't it?
Just wondering.

[stn_sage]

More proof of recovery.

[TheStolenGiraffe]

the aol platform worked well under the old internet, when we used dial-up and had to subcribe to internet service providers for access, but in the days of broadband, the convenience of being able to get internet from your phone/cable company on one bill has rendered them useless...aol should start working on media applications and digital rights.

[jgg000015]

aol.gone

[jtdev1]

They forgot to mention that AOL will ship those jobs over seas to India where they can now get 10,000,000 workers for 50% of the cost of the 2,300 they fire here.

[bubbadubba]

AOL is still around?
I thought they went under years ago.

[dowell100]

Me too. Amazed to hear they are still in business.

[jgg000015]

I'm waiting for somebody to say this is great news because mailing unemployment checks generates new jobs and revenue for the post office.

[jtdev1]

I hear they are electronically deposited now and there is a firm in India that wrote the program to do that (for around $20.00).