Quantcast

AOLTW TO CUT STAFF

With Ad Revenues Shrinking In Chilly Economic Waters, Online Unit To Be Reduced

AOL Time Warner is expected to announce a round of substantial layoffs at its online unit soon, according to people familiar with the situation, according to the Wall Street Journal.

After reporting lower-than-expected revenue growth and hinting the company might not meet its year-end figures last month, AOL Chairman/CEO Gerald Levin said he was "making cost management a permanent way of life." At that time, Levin didn't exclude the possibility of future layoffs.

This round of cutbacks at the America Online division, Dulles, VA, is expected to involve hundreds of employees, although an exact number wasn't known. This marks the second round of cutbacks for the company. In January, 725 workers at the 15,000-person division were laid off as part of a companywide cutback of more than 2,000 jobs resulting from the completion of the merger between America Online and Time Warner, according to the Journal.

The move comes as the media conglomerate is struggling to meet its financial targets amid a deteriorating advertising climate.

An AOL spokesman declined to comment on specific layoffs.

NEAR TRUTHS: SPRING BLOOMS
Here come the big guns. (3/28a)
THE COUNT: COLDPLAY IS HOT, COUNTRY'S COOKIN' IN THE U.K.
The latest tidbits from the bustling live sector (3/28a)
CITY OF HOPE TAPS MARCIANO FOR TOP HONOR
This year's philanthropic model (3/28a)
TRUST IN THE TOP 20
Hip-hop is no longer hibernating. (3/28a)
UMG BROADENS SPOTIFY OFFERINGS
Sir Lucian and Daniel are in harmony. (3/28a)
THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
 Email

 First Name

 Last Name

 Company

 Country
CAPTCHA code
Captcha: (type the characters above)