AOL waves goodbye to 900 staffers
Jobs contract off back of content spending spree
Posted in Financial News, 11th March 2011 11:46 GMT
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AOL pointed 900 of its employees towards the door marked Exit yesterday, as part of the company's effort to recast itself as a media content provider.
Just last month, the firm's CEO Tim Armstrong confirmed the $315m buyout of the Huffington Post.
Around 200 staffers based in the US were laid off, following that purchase. AOL axed 400 jobs in India and said a further 300 roles at the company would be outsourced to third-party outfits.
The jobs cull leaves AOL's headcount reduced by around 20 per cent, with a workforce now of 4,000 people on its books worldwide.
This is the latest in a series of job cuts at AOL. Armstrong has been desperately trying to shift the firm's focus away from cashing in on an increasingly diminished dial-up internet access biz.
His response has been to gulp up well-known blog sites. Late last year, AOL bought TechCrunch.
"Today is a very difficult day at the company because people’s jobs are impacted," said Armstrong. "The changes today for me are very personal."
Business Insider has a copy of Armstrong's memo to staff here, as well as more details about the lay-offs. ®
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