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October 20, 2005
Time Warner is tidying up the AOL house
Posted by Dominic Basulto
Time Warner's AOL unit is slimming down ahead of a potential deal with an Internet suitor, reports the New York Post. AOL is shedding 700 jobs, most of them from the dial-up Internet business - the same business that companies like Google and Yahoo have expressed little interest in. While the cuts represent only 4% of the company's worldwide workforce, this is AOL's largest corporate downsizing since December 2004 and marks a new seriousness in Time Warner's efforts to find a partner or acquirer for AOL.
For more on Time Warner's strategic options when it comes to AOL, check out the new piece from Knowledge @ Wharton - AOL: In Search of a New Strategy.
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