AOL plans to shed 1/3 of its employees after it is spun off from Time Warner on Dec. 9, according to an SEC filing. That's about 2,300 staff.
If it's any consolation to the nearly departed, CEO Tim Armstrong has decided to forgo his 2009 bonus, which could have totaled $4 million, wsj.com reports.
AOL cut 700 people — about 10% of its workforce — in January and currently has about 6,900 employees. When it merged with Time Warner in January 2000 AOL had 12,000 people on the books.
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