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Brief: AOL reportedly to cut 700 jobs

The layoffs would happen by the end of the year

By Stacy Cowley

November 2, 2004 12:00 PM ET

IDG News Service - America Online Inc. plans to lay off 700 employees, about 5% of its U.S. workforce, by the end of the year, several news organizations reported today.
Most of the layoffs will be at AOL's Dulles, Va., headquarters, according to The Washington Post, which said some employees have already been warned of the coming cuts.
An AOL spokesman declined comment. AOL's corporate parent, Time Warner Inc., is scheduled to report its third-quarter results tomorrow morning.
AOL has been struggling to maintain its subscriber base, as rivals continue to cut access costs and telephone and cable companies compete for customers with dedicated Internet service providers. As of June 30, the end of Time Warner's second quarter, AOL had 23.4 million subscribers, down 668,000 from a year earlier. The unit has eked out operating income growth in the first two quarters of 2004 despite essentially flat revenue.
Late last year, AOL cut 450 jobs in California, where it closed offices in San Francisco and San Diego.

Reprinted with permission from

IDG.net
Story copyright 2009 International Data Group. All rights reserved.

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