The rumored layoffs have arrived. AOL CEO Tim Armstrong today announced that the company would cut 200 US jobs, with the content side bearing the brunt of the layoffs. The Hollywood Reporter notes that a total of 900 jobs—or 20% of the workforce—will be done away with: Some 400 employees in India will be axed, and another 300 jobs there will be transitioned to outsourcing partners. AOL's brands and sites are getting a major slimdown: They'll shrink from 340 to 40, though Armstrong didn't mention any specifics on which would go.
Business Insider adds some tidbits gleaned from Armstrong's memo to the staff: Those affected will hear by 3pm today, and will be offered "workspace, counseling, and technology ... assistance programs." AOL will keep the AOL brand in media. (Read more AOL stories.)