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AOL Makes First Cut - More Expected
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Posted by: TotalRecall
Reuters is reporting that AOL has cut 300 jobs, and many more are probable:
NEW YORK (Reuters) - America Online on Wednesday confirmed it cut about 300 jobs on Wednesday, beginning what is expected to be a wave of layoffs as it trims costs and tries to revive the embattled Internet AOL Time Warner Inc. division.
America Online Chief Executive Jon Miller said earlier this month he planned to cut costs in the "nine-figure" amount, and most analysts expected reductions of more than $100 million.
Some sources have said the layoffs could match the 1,925 made last year, shortly after AOL completed its $106.2 billion purchase of Time Warner.
Read on.
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