AOL axes 700 employees
p2pnet.net News:- Bad news for AOL’s Virginia employees.
More than 700 will be axed shortly before Christmas.
The unfortunates, mostly at the company’s Northern Virginia headquarters, will become the December victims of a, "cost-cutting move tied to the firm’s continuing loss of subscribers to faster or cheaper Internet services, according to officials familiar with the decision," continues the Washington Post.
"Roughly 5,000 of AOL’s 13,000 U.S. employees are based in Northern Virginia.
The belt-tightening is partly the result of an in-house goal that the unit provide about $1 billion in cash annually to Time Warner, AOL’s parent company, says the Post story.
As a result, "AOL must cut spending, since its projections for revenue from advertising and subscriptions show little or no growth."
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See:-
axed – AOL Cutting More Than 700, Most in Virginia, Washington Post, November 2, 2004
November 2nd, 2004 at 8:21 pm
Wake up India, get out of your mud-huts and get working; There’s now 700 jobs available for the taking.
November 2nd, 2004 at 8:29 pm
“The unfortunates, mostly at the company’s Northern Virginia headquarters, will become the December victims of a, “cost-cutting move tied to the firm’s continuing loss of subscribers to faster or cheaper Internet services, according to officials familiar with the decision,” continues the Washington Post.”
“As a result, “AOL must cut spending, since its projections for revenue from advertising and subscriptions show little or no growth.”
Maybe if AOL didn’t charge $23.95 a month, didn’t send out those landfill-creating CDs that no one even at the post office uses, and would get some quality product incorporated into their service (Like that ghastly AOL browser), then maybe they would see some Profit.
Personally, I think they’re spending way too much on advertising at it is.
Adding insult to injury, its a known fact that AOL moved a good part of its California staff to India, which meant firing everyone and paying Kahm Nahfespersh $3.00 an hour to do what would make an american an honest $15.00 an hour. Maybe Kahm can afford that new flying carpet he’s always wanted now.
AOL is just a capitalist company, plain and simple. It’s obvious that they don’t care and the public is really wising up to it. People who use AOL are like my relatives and other people who dont give a damn, but even they stopped using AOL after finding a better ISP charging 9.00$ a month for the same service.
November 2nd, 2004 at 9:11 pm
I still remember when AOL was A(s)OL and detested by everyone with a grain of sense.
In other words, nothing has changed.
Morg