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AOL laying off 500 with focus now on mobile, video, data

Published 11/17/2016, 10:15 AM
AOL laying off 500 with focus now on mobile, video, data
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  • AOL (NYSE:VZ) will lay off 500 employees (about 5% of its workforce) as part of a restructuring.
  • The cuts will weigh on corporate units, according to CEO Tim Armstrong, while the company realigns toward mobile, video and data offerings.
  • That comes after AOL absorbed about 1,500 workers this year from an ad deal with Microsoft (NASDAQ:MSFT) and its acquisition of Millennial Media -- and ahead of a planned Verizon purchase of Yahoo (NASDAQ:YHOO)'s Internet business. A Yahoo integration would kick off another round of plans.
  • AOL will be focused in two global business units: Media (which will hold content properties including the Huffington Post and TechCrunch), and Platforms (holding the ad tech operations).


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