AOL Time Warner announced plans to lay off some 2,000 employees -...
AOL Time Warner announced plans to lay off some 2,000 employees -- 3% of its total staff -- as part of its general postmerger restructuring. The cutbacks encompass 725 at AOL, including 300 in Washington area, and 1,300 at…
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Time Warner in N.Y., L.A., Washington and elsewhere. Company also said it intended to sell or close its 130 Warner Bros. retail stores, affecting another 3,800 employees. AOL Time Warner said it would consolidate some of Warner Bros.’ Web sites and freeze hiring at its cable systems, cable programming networks and WB network. Moves come on top of restructuring CNN announced last week that will eliminate another 400 jobs. Although they don’t expect latest restructuring to generate big cost savings, company officials said AOL Time Warner was on track to meet its revenue growth targets of 12%-15% for year.