AOL headquarters will move from Dulles, Va., to New York, improving access to the ad industry that's crucial to its evolving business strategy. Execs say AOL's 4,000 employees in the DC suburb won't lose their jobs, but locals are worried. "This is a loss and there is no way to sugarcoat it," one business leader told the Washington Post.
The new office is near Union Square, Bloomberg reports, not at Time Warner HQ near Rockefeller Center. "New York City is the center of advertising, so it makes perfect sense to locate our corporate headquarters here," said the chairman and CEO. AOL's recent reorganization has already led to the loss of 5,000 jobs worldwide.