AOL Reportedly Cuts 100 Jobs as Prelude to Mass Layoffs

Authored by Mark Hefflinger on November 10, 2009 - 9:30am.
New York - AOL was expected to cut about 100 jobs on Tuesday, in what several industry blogs are calling just a prelude to mass layoffs expected to occur once the company completes its spin out from parent Time Warner (NYSE: TWX) next month. The moves reportedly are part of CEO Tim Armstrong's "Project Everest" initiative, which aims to trim costs throughout the company.

All Things D wrote that Armstrong is "seriously considering" offering voluntary buyouts as a way to limit the number of cuts.

Time Warner last week announced that AOL's revenue dropped 23% during the third quarter, as subscription and ad revenue both fell by double digits.

 

Related Links:
http://snipurl.com/t683x
(Valleywag)

http://snipurl.com/t6848 (All Things D)

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In response to the global

In response to the global economic downturn, Microsoft announced its plan to adjust the company’s cost structure through spending reductions and job eliminations. The company has begun its next round of layoffs in the ongoing cutbacks announced earlier this year, with 5,000 employees about to get the axe. That wasn't good enough, apparently, as the suits that populate the office needed a few more ivory back scratchers, and the number of Microsoft layoffs has been expanded, as they are eliminating 800 more jobs. Microsoft, based in Redmond, Washington, one of the largest employers of the greater Seattle area, has also posted contractor jobs to make up for the losses, but pay less. However, the workers that gave the company its success by their labor are rewarded for service with more Microsoft layoffs and anxiety about when they get their next pay day.

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