A report in the Wall Street Journal has claimed that AOL Time
Warner is preparing to announce further job losses at its online
division following the cull of 750 staff from the 15,000-strong
workforce in January this year.
Citing sources inside AOL, the report said the lay-offs would be
substantial and announced soon.
AOL Time Warner could not be reached for comment.
AOL has been badly hit by falling advertising revenue. Last month,
the media and online conglomerate announced second-quarter earnings
that failed to meet analysts' expectations.
At the time, AOL president and CEO Gerald Levin warned that
"permanent cost management would be a way of life" for the company.
