[AnnonUSA]

Tuesday Is Layoff Day at AOL

By Saul Hansell

When employees walk into AOL’s offices Tuesday morning, 1,200 of them will be quickly pulled aside by their managers. They will be handed packets with details of their severance packages and told to pack their things and leave the building.
Today, Randy Falco, AOL’s chief executive, sent out a memo saying the company would eliminate 2,000 of its 10,000 jobs. Most of those cuts will come in the form of 1,200 layoffs to be announced Tuesday, an AOL spokeswoman said. Most of the remaining cuts will be in Europe and India, but there will be some more to be announced later in the United States.
Employees will be given a severance package of at least four months pay, the spokeswoman said. This will include a payment equal to two months pay in lieu of work as a way to comply with the Warren Act, which requires companies to give 60 days notice before major cutbacks. Most laid-off employees, however, will not be asked to work after Tuesday.
The cutbacks this year follow a restructuring last year that eliminated 5,000 jobs, largely associated with AOL’s Internet access business. AOL sold its access operations in Europe, closed its customer service operations that were based in the United States, and completely stopped marketing to get new access customers.
The layoffs this year are spread through the organization as Mr. Falco is trying to streamline management in keeping with his leaner vision for the company, focused on its advertising business.

[TheBagman]

AOL sucks.
They'll find other jobs.

[TheDriver]

GULD