×

Once registered, you can:

  • - Read additional free articles each month
  • - Comment on articles and featured creative work
  • - Get our curated newsletters delivered to your inbox

By registering you agree to our privacy policy, terms & conditions and to receive occasional emails from Ad Age. You may unsubscribe at any time.

Are you a print subscriber? Activate your account.

BtoB

AOL cuts 8% of work force after posting massive loss

Published on .

New York--On the heels of posting a second-quarter 2001 net loss of $734 million, struggling AOL Time Warner Inc. announced that it will fire 1,200 workers, or 8% of its work force. The cuts, nearly half of which will be made at iPlanet, AOL's software venture with Sun Microsystems Inc., follows the company's slashing of 725 jobs, or 5% of its work force, earlier this year. The latest round of layoffs come five days after AOL created its Global Marketing Solutions Group, which is charged with reviving the company's cross-platform marketing opportunities and serving its major co-marketing corporate partners, including Bank of America Corp. and eBay Inc.
Most Popular
In this article: