Time Warner Inc., will lay-off 2,000 employees at AOL.
This is about 20% of the Internet unit's worldwide workforce. AOL's president Randy Falco sent out an email to employees that confirms the lay-off. Apparently severance packages will be generous.
The reduction to 8,000 employees is supposed to take AOL a couple of month and is starting tomorrow.
More details on Bloomberg and on Alley Insider.
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