AOL to slash 5,000 jobs

Some 5,000 AOL employees, or about 26 per cent of the company's 19,000-person workforce, will lose their jobs within six months as a result of restructuring at Time Warner's AOL online division, it emerged on Thursday.
AOL said in a statement: "At a company meeting this morning, Jon Miller [AOL CEO] told AOL's worldwide workforce of 19,000 people that within six months, it was likely that around 5,000 employees would no longer be with the company."
Time Warner on Wednesday announced the long-struggling AOL plans to make email, instant messaging and other services available at no cost to users with broadband internet access. The offering marks yet another transition for the venerable internet service as it tries to move on from an era of dial-up access and subscription-based revenue.
AOL, which is in the process of selling its European internet access business, employs about 3,000 staff in its access business in Europe, one source said.