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AOL is About to Cut Its Payroll by 500 Heads

You can always expect some heads to roll just in time for the holidays. Univision's Fusion Media Unit is cutting staff, more cuts are rumored to be coming at publishers like Time Inc, Conde Nast and Others. And this morning AOL announced it will be cutting 500 people or 5% of its workforce so it can focus more on data, mobile and video. The company said the cuts have nothing to do with parent company Verizon's pending Yahoo acquisition which has been on shaky ground. However its hard to not mention that if a Yahoo deal does happen and it is merged with AOL, there would surely be a lot of redundancies.
In a memo to AOL employees Thursday, Armstrong positioned the cuts as a move to streamline the company after it added more than 1,500 employees over the past year through the acquisition of mobile-ad vendor Millennial Media and the bulk of Microsoft’s advertising operations. “The changes we are making are about setting the company on a path to successfully operating in today and tomorrow’s reality,” Armstrong wrote in the memo, which was published by AOL-owned TechCrunch.
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AOL is About to Cut Its Payroll by 500 Heads Reviewed by Editor on 10:42 AM Rating: 5
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