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World: AOL to cut 30% of staff
The Internet firm AOL has revealed plans to reduce its staff numbers from their current level of 6900 to some 2300 once it becomes an independent company on 9 December. AOL is currently part of the AOL-Time Warner group – born from AOL’s purchase of Time Warner for $147bn in 2001 – and hopes to save $300m per year through these job cuts. The company asserted that it hopes to achieve these reductions in its workforce through voluntary redundancies although could not rule out the need for compulsory redundancies if it failed to reach its target figure.