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Monday, May 20, 2002

AOL TIME WARNER JOB CUTS LOOM

AOL Division Set to Lay Off 100 Employees
AOL Time Warner’s AOL division will lay off about 100 of the 725 employees in its interactive marketing department this week, sources told the Wall Street Journal.

The changes come as Robert Pittman, COO of AOL, is attempting to turn around the online giant. Last month, he named Robert Sherman as the new head of the interactive marketing department.

The interactive marketing department is responsible for selling online advertising. In the most recent quarter, AOL’s ad sales declined 31%.

America Online is suffering from a decline in advertising and slowing subscriber growth, the Wall Street Journal adds. Earlier this year, the online concern's chief executive, Barry Schuler, stepped aside, allowing Pittman to take over day-to-day operations of the business.

 
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