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Jonathan Miller informed employees that AOL will eliminate 5,000 of 19,000 positions, or about 25 percent of its workforce. The reductions will take place over the next six months as the company focuses on advertising instead of dial-up subscriptions. A majority of the reductions will come from operations in Europe, where AOL has been in discussions to shed non-core assets. Earlier this week, AOL reported that it had entered negotiations with French telecom company Neuf Cegetel to sell its dial-up business there. Similar discussions are under way in Britain and Germany, where sales will be completed by this fall. A total of 3,000 workers are employed by AOL in those three countries. (Source: Washington Post)

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