AOL To Lay Off 1/3 of Its Workforce
AOL spokeswoman, Tricia Primrose announced that more than 1100 workers at AOL have accepted voluntary resignation requests. This leaves AOL in the position of having to find another 1200 positions to eliminate in order to reach their goal of shedding 2300 jobs, or 33% of their workforce.
Partly as a response to the separation with former parent company, Time Warner, AOL is looking for ways to cut costs and return to profitability as a content generating company.
AOL said in November it would take $200 million in charges for severance and restructuring-related costs.
AOL shares rose 29 cents, or 1.1 percent, to close at $25.97 Monday.
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