November 18, 2016
AOL is planning to release 5 percent of its staff today, affecting about 500 employees. “CEO Tim Armstrong said that most of the cuts will come in its corporate units, while resources will be shifted more at mobile, video and data offerings going forward,” reports Recode. AOL, which was purchased last year by Verizon, recently added 1,500 employees from its ad deal with Microsoft and acquisition of Millennial Media. AOL’s current structure features its media unit (with properties such as Huffington Post and TechCrunch) and its platforms groups, which includes its advertising tech. “Armstrong said the layoffs are not related to current discussions AOL execs are having with Yahoo counterparts about integration between the two companies,” notes Recode.