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AOL to cut one-third of staff

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New York—AOL Inc., which will be spun off from Time Warner on Dec. 9, plans to cut its staff by one-third, or about 2,500 workers, according to documents filed Thursday with the Securities and Exchange Commission.

The restructuring will “be conducted on a voluntary and involuntary basis,” the filing said. AOL hopes to reduce its annual operating costs by $300 million. The company said it expects to take a restructuring charge of up to $200 million.

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