Skip to: Content
Skip to: Site Navigation
Skip to: Search
THURSDAY, NOVEMBER 26, 2009
| Subscribe to Newser's RSS feeds RSS | Follow Newser on Twitter Twitter


0

Struggling AOL to Take 2,000 Jobs Offline

Subscriber losses prompt Time Warner to trim workforce 20 percent

Share

(Newser) – Internet icon AOL will pink slip 2,000 workers tomorrow—1,200 from the US—as the once-dominant service provider tries to re-energize its business. In August corporate parent Time-Warner announced that AOL had lost 1.1 million paying subscribers, and reported second-quarter sales of $1.3 billion, a 38% drop from a year ago. Last year, the company cut 5,000 jobs.

The reductions should allow AOL to focus on high-growth areas, mainly online advertising,  Bloomberg reports. Time Warner is also moving AOL's headquarters to New York from Dulles, Va., with plans to form a network to help advertisers buy online ads. TW shares fell slightly to $18.85 this morning in NYSE trading; shares are down 13% this year.

(FILES) This 12 January 2001 file photo shows the AOL Time Warner...
(FILES) This 12 January 2001 file photo shows the AOL Time Warner...   (Getty Images (by Event))
Randy Falco, AOL's Chairman and CEO, speaks at the AOL
Randy Falco, AOL's Chairman and CEO, speaks at the AOL "First Look" event in New York, Tuesday, April 17, 2007. AOL held the event to announce their new programming, products and advertising strategies....   (Associated Press)
A sculpture rests on a plaza in front of an office building, known by its address as 770 Broadway, on Monday, Sept. 17, 2007 in New York. Time Warner Inc. said Monday its AOL online unit plans to move its headquarters to the New York office building from Dulles, Va....
A sculpture rests on a plaza in front of an office building, known by its address as 770 Broadway, on Monday, Sept. 17, 2007 in New York. Time Warner Inc. said Monday its AOL online unit plans to move...   (Associated Press)
The President and ChIEf Operating Officer of America Online ...
The President and ChIEf Operating Officer of America Online ...   (Getty Images)
« Prev« Prev | Next »Next » Slideshow
OFF THE GRID
11.24.09
Murdoch and Microsoft: The Mice Are Trying to Roar
11.23.09
Books Are Bad for You
0 comments
VIEWING:
 
LEAVE A
COMMENT Comment Policy
Facebook ConnectPost this comment to Facebook?

After connecting you will have the option to post your comment on your Facebook profile.

 

Related Newser Stories

237 Stories

 Unemployment to Stay 
 High for Years 

Fed officials predict it will take about 5 years to return to normal

Nov 24, 09 4:13 PM CST
(Newser) - Unemployment will remain higher than normal for years to come, Fed officials predicted today. Even at the end of 2012, the rate is forecast to be between 6.8% and 7.5%—a decent turnaround from the current 10.2% but still about 2 points higher than the figure in... More »

MORE ABOUT:
unemployment • job cuts • job • jobless • unemployment rate

 AOL to Lay Off a Third of Staff 

Roughly 2300 will get the boot after spin-off

Nov 19, 09 8:13 AM CST
(AP) - 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... More »

MORE ABOUT:
Time Warner • AOL • unemployment • job cuts

Johnson & Johnson to
Slash 8,700 Jobs

Company says moves will save up to $900M annually

Nov 3, 09 8:56 AM CST
(AP) - Johnson & Johnson will cut 7% of its workforce—some 8,400 jobs—and make other other restructuring moves in order to save up to $900 million next year. The New Brunswick, NJ, company says it will also simplify its business structure in order to achieve savings that will add... More »

MORE ABOUT:
cost cutting • Johnson and Johnson • restructuring • job cuts

237 Stories


Related articles

AOL wants you to buy ads
Business Wire

Moving where the money is
BusinessWeek

AOL in the Big Apple
New York Times


Business  •  Technology 
TwitterFollow @NewserBusiness on Twitter

 
Time Warner • AOL • layoffs • job cuts

from our news partners