US online service AOL cuts 700 jobs
The U.S. online service AOL is laying off about 700 employees in light of the advertising slump. This is according to an internal memo to employees released on Wednesday, a copy of which is in the possession of the Reuters news agency.
The US online service AOL is laying off around 700 employees in view of the advertising slump. This is according to an internal letter to employees published on Wednesday and obtained by the Reuters news agency. AOL also wants to cut bonus payments this year in order to keep the number of redundancies low, writes AOL boss Randy Falco in the letter. The jobs are to be cut primarily in the USA.
The company employs around 8,000 people worldwide. AOL belongs to the world's largest media group, Time Warner. Google acquired AOL for one billion dollars at the end of 2005.
The company employs around 8,000 people worldwide. AOL belongs to the world's largest media group, Time Warner. Google acquired AOL for one billion dollars at the end of 2005.
