AOL Prepares for Possible Job Cuts
July 25, 2009 by Mark Ellis
Filed under Business
A spokesperson for AOL has revealed that the internet company could soon be facing a slew of job cuts after a review of the company’s finances. The news came at a companywide meeting from AOL’s CEO Tim Armstrong, who warned employees to be prepared for the worst pending AOL’s financial evaluation.
Armstrong’s comments point to problems within the company, essentially underlining the AOL’s needs to cut costs as the economic crisis continues to take its toll on businesses around the world. The company’s spokesperson did not reveal exactly how many jobs were in danger.
AOL is a subsidiary of Time Warner Inc. and its need to cut costs may also stem from the fact that Time Warner plans to transform AOL into an independent, publicly-traded company. In addition to possibly cutting jobs, Armstrong has revealed his plans to create more local websites, take a second look at advertising, and refocus the company’s general strategy in order to help alleviate the damage caused by falling sales.
Image: Flickr
