AOL Lays Off 20 Percent of Its Workforce

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News Posted: Fri, Mar 11 2011 12:31 PM
As AOL looks to the future following its $315 million acquisition of the Huffington Post, a good chunk of the old regime will be left behind. AOL is in the process of handing out around 900 pink slips, which represents 20 percent of the company's workforce. All affected employees have already been notified, who according to All Things Digital, will be receiving four weeks of severance pay plus an additional week for each of service. So what comes next for AOL?

In a memo titled "AOL's Next Step," company CEO Tim Armstrong called this a "critical step on the comeback trail for AOL," adding that they're "creating a next generation hyper-local, national, and global media company." We're not sure exactly what that is, but investors will have to trust that Armstrong and company know what they're doing, and where they're headed.


You could literally wallpaper a room with all the trial CDs AOL used to give out (Image Credit: monkerino)

AOL once ruled the dial-up scene, but that was a long time ago. Since then, users have flocked to broadband services, leaving their AOL accounts behind. Believe it or not, the dial-up business reportedly still accounts for 40 percent of AOL's revenue with 2 million U.S. subscribers. That isn't the future, however, and Armstrong reckons that number will drop by 25-29 percent a year from now.

"The Huffington Post deal for us really was about trying to transition the company to be more of a digital media company," Armstrong said.

Going forward, the Huffington Post is being combined with AOL's existing media properties to create what it's calling the Huffington Post Media Group, with Arianna Huffington leading the charge.
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rapid1 replied on Fri, Mar 11 2011 1:17 PM

Miss Huffington seems to be kicking the slackers to the curb to me.

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coolice replied on Fri, Mar 11 2011 1:51 PM

LOL. I guess you can say that

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Sccoaire replied on Fri, Mar 11 2011 6:03 PM

AOL still exists? wow!

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Whats AOL??...is it an new popular Acronym like "LOL".." LMFAO" "ROFT"???

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coolice replied on Sat, Mar 12 2011 3:38 AM

assholes online

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coolice replied on Sat, Mar 12 2011 3:40 AM

as in... ***'s online.... (omg, that aol) i've seen a couple of people use it... its not very common... everytime i read it, it was like... america online? what does that have to do with anything?

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3vi1 replied on Sat, Mar 12 2011 12:39 PM

Back in the olden days, there was a good way of gaugeing how much people on Usenet knew about the topic upon which they were commenting. If their email address ended in @aol.com, you knew they had no clue or were a troll.

What part of "Ph'nglui mglw'nafh Cthulhu R'lyeh wgah'nagl fhtagn" don't you understand?

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eunoia replied on Sat, Mar 12 2011 6:26 PM

.

...pending.

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detnight replied on Wed, Mar 16 2011 2:32 PM

hey I still use it for my Email since 1995

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