Beleaguered internet service provider AOL has announced that it is eliminating another 2,000 jobs worldwide to cut costs and build its strength as it transitions from an ISP to an online advertising company. The 20% slice from AOL's work force comes after several rounds of layoffs in recent years, including a cut of 5,000 jobs last fall, all due to increasing difficulty in staying profitable in a market where many customers have begun moving away from dial-up to high-speed services offered by cable and telephone companies. "
This realignment will allow us to increase investment in high-growth areas of the company - as an example, we added hundreds of people this year through acquisitions - while scaling back in areas with less growth potential or those that aren't core to our business," AOL Chief Executive Randy Falco told employees Monday.
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