Monday, October 15, 2007

AOL to lay off 20 percent

<A HREF="http://www.infoworld.com/article/07/10/15/AOL-to-lay-off-20-percent-of-staff_1.html?source=rss&url=http://www.infoworld.com/article/07/10/15/AOL-to-lay-off-20-percent-of-staff_1.html">AOL will lay off about 2,000 employees,</A> or approximately 20 percent of its staff, as it continues its transformation into an online, ad-supported business and moves further away from its traditional revenue model based on dial-up Internet access fees.

The layoffs will begin on Tuesday and will continue over the coming months, CEO Randy Falco said in a memo sent to employees on Monday and obtained by IDG News Service. The staff reductions will allow AOL to increase its investments in "high-growth areas of the company," Falco wrote.

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