AOL to Cut One-Fifth Global Workforce

AOL to Cut One-Fifth Global Workforce

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NEW YORK (Reuters) - Time Warner Inc's Internet unit AOL will eliminate 2,000 jobs as part of an ongoing restructuring to better focus on boosting online advertising, according to a memo obtained by Reuters on Monday.

The cuts, which begin on Tuesday, amount to about one-fifth of AOL's global work force and are spread across operations in the United States and in Europe, where the company has sold off its Internet access businesses.

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...proving the IT bubble is said and gone -- this, one of the first
Internet company, seems like the final nail in that coffin.

Next: subprime mortgages and credit industries.

Look out winter stock markets!

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