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.
- This story first appeared on vnunet.com.
If businesses do not take cyber security seriously in their business planning regulators may do it for them, the ICAEW has warned
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast
Company bosses are considering relocating operations or headquarters away from the UK following the country's decision to leave the European Union