AOL laying off 20 percent of its staff

AOL continues to enhance their focus on advertisement supported businesses and the company has now announced their decision to cut 20% of their staff.

AOL has announced that they are going to lay off about 2,000 employees. It would begin immediately and would continue over the next few months.

They plan to use the funds saved from these job cuts to increase its investments in high-growth areas of the company.

AOL CEO Randy Falco said in an internal memo: “So where is this taking AOL? Put simply, my vision for AOL is to build the largest and most sophisticated global advertising network while we grow the size and engagement of our worldwide audience. We’re now in a position to win as an advertising-supported business. We have a bright future as a company if we can execute on this vision.”

He added that the people being laid off from the jobs would get generous severance packages. AOL would also be helping them to find new jobs.

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