AOL to lay off up to 1,200 workers to reach target
AOL said in November it would take $200 million in charges for severance and restructuring-related costs.
By Agencies |
SAN FRANCISCO: The struggling Internet company AOL will lay off up to 1,200 workers because it didn't get enough volunteers to accept buyouts.
AOL spokeswoman Tricia Primrose said Monday that only 1,100 volunteered to leave. That means it would need to shed up to 1,200 positions to reach its previously announced reduction target of up to 2,300, or about a third of its work force.
Primrose says AOL is laying off some employees in the U.S. on Monday, though most will occur on Wednesday. She also says that the company started laying off employees in its European offices on Monday, too.
AOL said in November it would take $200 million in charges for severance and restructuring-related costs.
The cuts come as AOL separated from Time Warner Inc. last month.
AOL spokeswoman Tricia Primrose said Monday that only 1,100 volunteered to leave. That means it would need to shed up to 1,200 positions to reach its previously announced reduction target of up to 2,300, or about a third of its work force.
Primrose says AOL is laying off some employees in the U.S. on Monday, though most will occur on Wednesday. She also says that the company started laying off employees in its European offices on Monday, too.
AOL said in November it would take $200 million in charges for severance and restructuring-related costs.
The cuts come as AOL separated from Time Warner Inc. last month.
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