As AOL Heads For An IPO, It Leaves 2500 Employees Behind
November 19, 2009 at 10:40 AM EST
AOL CEO Tim Armstrong this morning informed staff that the company will be looking for 2,500 people to voluntarily hand in their resignations , which would represent about one third of the company’s payroll. The news comes a mere week after AOL, which is preparing to spin off Time Warner and go public , said it would be firing at least 1,000 employees and spend about $200 million cleaning house prior to the planned IPO.