Feeds

AOL bins 1700 jobs

Worst kept secret of the year?

  • alert
  • submit to reddit

Seven Steps to Software Security

AOL is to slash 1700 jobs in a bid to make it more efficient, the Internet giant confirmed yesterday.

The cuts were widely predicted but much worse that reported previously.

Some 1200 jobs will go at the company's online operation. A further 500 jobs will be lost at its Netscape-Sun alliance.

The job losses will cost media giant parent, AOL Time Warner, between $100 million and $125 million in Q3 and are part of a major restructuring at the company.

Said AOL chairman and chief exec Barry Schuler: "This new organisation enables us to stay at the leading edge of the Internet's development and take full advantage of emerging growth opportunities in areas like broadband, online music and home networking.

"With the Internet poised to start its next chapter, we are better positioned than ever to deliver valuable new services to consumers and compelling new opportunities to our commerce partners.

"In the seven months since the merger, we have continued to identify new ways to leverage shared resources across AOL Time Warner and now we are putting them to work.

"Our new organisation will be even more nimble and flexible, while maximising the benefits of our size and scale," he said.

Despite yesterday's announcement, it's still unclear exactly where the axe will fall. No one from AOL UK was available for comment by press time to say whether the job cuts were restricted to the US, or whether workers in the UK or Europe were under threat. ®

Related Stories

AOL job cut speculation rises to 1,000
AOL dismisses job cuts claims

Boost IT visibility and business value

More from The Register

next story
Airbus promises Wi-Fi – yay – and 3D movies (meh) in new A330
If the person in front reclines their seat, this could get interesting
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
UK Parliament rubber-stamps EMERGENCY data grab 'n' keep bill
Just 49 MPs oppose Drip's rushed timetable
Want to beat Verizon's slow Netflix? Get a VPN
Exec finds stream speed climbs when smuggled out
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.
Mobile application security vulnerability report
The alarming realities regarding the sheer number of applications vulnerable to attack, and the most common and easily addressable vulnerability errors.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.