CNNMoney: AOL to slash 5,000 jobs

[DeepModem Mom]

AOL to slash 5,000 jobs
Online giant expects to cut more than a quarter of its work force as part of its restructuring plan.
August 3 2006

NEW YORK (CNNMoney.com) -- AOL said Thursday that about 5,000 workers will probably be let go within six months as the company moves away from its old dial-up Internet access business in a bid to win more advertising dollars online.

"At a company meeting this morning, (CEO) Jon Miller told AOL's worldwide work force of 19,000 people that within six months, it was likely that around 5,000 employees would no longer be with the company," an AOL spokeswoman told CNNMoney.com.

The news came a day after AOL announced what was widely expected: that it was going to offer many of its services for free to broadband customers.

Executives at AOL are hoping the changes will reignite growth as AOL seeks to move from a subscription-based business to one that taps the rapid growth in online advertising....

***

Under the plan, AOL will give away e-mail, software and other Web services for free to high-speed Internet users as it tries to attract more users to its Web site and more advertisers....

http://money.cnn.com/2006/08/03/technology/aol_cuts/index.htm?cnn=yes

[Tandalayo_Scheisskopf]

1. Death spiral.

2 years, tops.

[L0oniX]

2. I wish AOL would DIE!

It always was very lame and is much more lame now. It is good for feeding work to the people who repair computers though ...it always clogs up a box with junk, trojans, back doors and spam ware.
:evilfrown:

[maddezmom]

3. duplicate topic

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=102&topic_id=2433401