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Revolving Door Newsletter: 11.20.09
AOL To Shed 2,300 Staffers; BusinessWeek Cuts Big NamesNovember 20, 2009
AOL will cut one-third of its workforce after being spun off from Time Warner in December. The new company hopes to save $300 million a year by eliminating 2,300 employees. Volunteers can offer themselves up starting on December 4, and layoffs will occur if the figure isn't met. In an effort to encourage voluntary departures, management is offering a sweeter severance package. If people choose to stay, they could be gone in the first quarter of next year...