updated 02:40 pm EDT, Thu August 3, 2006
AOL Slashes 5000 Jobs
AOL may have used yesterday's news of itsnewly free services as a cushioning blow for harsher steps the company planned to take while switching to an ad-driven business model. Today, the access and content provider let employees know that up to 5,000 jobs, or a full 25% of the company's staff, will be cut within the next six months as part of restructuring efforts. While specific divisions weren't mentioned, it's likely that more of the cuts will come from the Internet access portion of the company, which is losing its customer base at a rapid pace.