AOL to Lay Off a Third of Staff

Roughly 2300 will get the boot after spin-off
By Newser Editors and Wire Services
Posted Nov 19, 2009 8:13 AM CST
In this May 28, 2009 file photo, an AOL home page is displayed on a user's computer in Palo Alto, Calif.   (AP Photo/Paul Sakuma, File)

(Newser) – AOL says it plans to cut about a third of its work force once it is spun off from Time Warner. That would amount to nearly 2,300 of the roughly 6,900 workers at the struggling company. AOL said in a securities filing today it will impose the cuts on a voluntary and involuntary basis. The company hopes the move will trim annual costs by about $300 million. Time Warner said this week that it will spin AOL off to investors Dec. 9.