News - National
AOL to lay off a third of staff
Posted: Nov 19, 2009 7:30 AM by Associated Press
AOL said it plans to cut about a third of its work force once it is spun off from the media conglomerate Time Warner Inc.
That would amount to nearly 2,300 of the roughly 6,900 workers at the struggling Internet company.
AOL said in a securities filing Thursday it will impose the cuts on a voluntary and involuntary basis.
The company hopes the move will trim annual costs by about $300 million.
The job cuts still need approval from the new AOL board.
Time Warner said this week that it will spin AOL off to investors Dec. 9.
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