With divorces, there is always loss, and the Time Warner/AOL split is no exception. AOL announced that it will cut approximately one-third of its work force (around 2,500 employees) in order to cut costs as it prepares to begin its second act as an independent company, according to The New York Times. That number is more than double early estimates, and the news comes a week after 100 jobs were cut at the company.
AOL is asking for volunteers to accept a buyout package so it does not have to commit layoffs.
The company hopes that the cuts will save $300 million, a necessary move after revenue dropped 23 percent last quarter.