AOL may axe 1000 online staff
AOL Time Warner is reportedly planning to cut around 1000 jobs from its AOL group by the end of the month.
The cuts will be made because of falling online advertising revenue.
Rumours of layoffs have been doing the rounds for the last few days, but it is still not clear exactly how many of AOL’s 16,000 staff will go.
According to the Washington Post, cuts will be in the region of 1000 staff. Other US reports put the number of at-risk jobs in the hundreds.
AOL isn’t commenting.
The company’s ad revenues have outperformed a slowing market but have failed to meet financial targets set before the slump, which analysts believe can now only be reached by cutting costs.
Overall, AOL Time Warner employs 90,000 staff. It axed 2400 jobs, including 400 CNN staff, once the merger was completed in January.