AOL Cuts More Jobs
The fall is not a happy season at AOL, as the company is once again ready and willing to fire a now lot of employees. This time we're talking about 20% of its staff.
October 16, 2007
AOL CEO Randy Falco wrote in a statement to employees:
"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 performed a similar move last fall, when 5,000 people quickly became ex-employees.
The Internet company has been experiencing difficulties since the beginning of the broadband era and is now trying to transform itself into an online advertising company, an enterprise in need of less and less people, at least for the time being.