iPhone | iPad
Android
Huawei
The Emirates called for strengthening the international humanitarian response and providing urgent relief to those in need
KT APPDOWNLOAD
AOL to begin cutting jobs after volunteers run short
US Internet company AOL said on Monday that it will cut jobs after a voluntary departure program failed to meet a target of trimming one-third of its global workforce.
The Internet pioneer, which was spun off from media giant Time Warner last month after a troubled merger, had announced in November it would take a 200-million-dollar charge as part of a restructuring as it regained independence.
In December, AOL said the reduction in the workforce, representing about 2,500 jobs, was to be voluntary, with involuntary layoffs to be used only if the restructuring target were not met.
“We had approximately 1,100 employees opt to join the voluntary program.... We did not reach that target,” Alysia Lew, an AOL spokeswoman, told AFP in an email.
Lew noted the involuntary layoff process varies by country internationally and is subject to local laws.
She said AOL began meeting with employees Monday throughout Europe, including in Britain, Germany and France.
“We announced plans to shut down many of our offices in Europe, beginning with those in Spain and Sweden,” she said.
The consultative process with the workers’ councils in relevant countries will begin this week.
In the United States, the New York-based AOL said it would begin notifying “a limited number of individuals” affected by the layoffs Monday, with the majority of the pink slips being delivered Wednesday.
The company is currently the number four gateway to the Web after Google, Microsoft and Yahoo!, while its dial-up Internet access business has been gradually supplanted by high-speed broadband services.
Time Warner combined with America Online in 2001 at the height of the dotcom boom with AOL using its inflated stock as currency for the transaction.
Time Warner was forced in 2002 to massively write down the value of AOL and the AOL name was removed from the group’s corporate title in 2003.
AOL, formerly known as America Online, became a separate traded company on December 10.
AOL shares rose 1.13 percent to 25.97 dollars Monday in New York trade.
More news from
Photonics is the study of light and has several applications including LED, VR, holograms, high-speed internet and solar panels among other things
A delegation from Egypt arrived in Israel on Friday hoping to revive the truce negotiations
The decision aims to protect the safety and security of pilgrims
They have been carrying out rescue operations for the last four years, drawing on their extensive experience in saving people from desert terrain
Dubai Amateur 17-year-old Oscar Craig continues to showcase his impressive form with third-round level par 72 at Saadiyat Beach Golf Club
The tragic incident led to the death of a number of innocent people from Yemen
Alongside regional leaders, US Secretary of State Antony Blinken will attend the meetings
