AOL to restructure, eliminate 1200 jobs
America Online (AOL) announced a restructuring that will result in the elimination of 1200 jobs, the creation of an interactive services group, and the consolidation of the company’s Web brands.
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In addition to the 1200 jobs, AOL will cut about 500 positions from its Sun-Netscape Alliance. As a result of the cuts, parent AOL Time Warner will take a charge in the third quarter of $100 million to $125 million.
The interactive-services group will include the company’s flagship AOL Internet services as well as the local Digital City unit. Brands to be consolidated under the AOL Web Properties Group include Netscape, CompuServe, Moviefone, MapQuest and the AOL Instant Messenger.
--Glenn Bischoff, senior writer
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© 2012 Penton Media Inc.
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