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AOL to drop 20% of staff

Posted by Don Day on October 15, 2007

aollll.jpgTime Warner announced today it will cut 20% of its AOL unit staff – 2,000 jobs. AOL lost 1.1 million subscribers in the second quarter (to which my cynical mind asks, “does AOL even have 1.1 million subs still?) Of course, AOL is trying to emerge from the subscriber-based business to an ad supported model.

“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,” AOL head Randy Falco told employees in a memo obtained by Variety.

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