AOL to Trim 2,000 Jobs in a Continuing Overhaul

AOL said yesterday that it would eliminate 2,000 of its 10,000 jobs as it continues its move away from the Internet access business.

The cutbacks are part of a plan by Randy Falco, who took over as AOL’s chief executive last year, to reorganize the company. The new focus is on advertising-supported Web sites and, even more, on selling advertising on behalf of other companies. AOL said last month that it would move its headquarters to New York from Dulles, Va.

AOL has stumbled badly since it dominated the early days of the consumer Internet, growing so valuable that it was able to buy Time Warner. (The Internet operations are now a unit of Time Warner.) After the latest round of cuts, AOL will have fewer than half of the 18,000 employees it had at the time of that merger.

--> My, how the mighty have fallen.

(Via NYT)

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