AOL will eliminate about 200 jobs in the U.S. and 700 in India as it integrates the newly acquired Huffington Post, it says.AOL Inc. is planning to cut its workforce by about 20%, or more than 900 of the 5,000 employees it has on its payroll worldwide.
AOL Inc. (AOL), the Internet company that agreed to buy the Huffington Post last month, said it will eliminate as many as 900 jobs as the company integrates the news website and restructures to try to return to revenue growth.
AOL said it will slash nearly 20 percent of its work force worldwide, partly to eliminate overlap that stems from its recent purchase of The Huffington Post. The cuts leave AOL with 4,000 employees — a fifth of what the company had at its peak in 2004.» E-Mail This » Add to Del.icio.us
Siemens AG’s new Chief Executive Officer Joe Kaeser is widening job cuts from an initial plan after the failure to catch up in profitability with rivals General Electric Co. and ABB Ltd. cost his predecessor the job.
The company will eliminate 15,000 posts, representing 4% of its 370,000 workers worldwide, and a third of the reduction will come in the German home market, Oliver Santen, a Siemens spokesman, said by phone yesterday. He declined to give more regional details. The company has more than 4,500 employees in Canada.
AOL seems to be radically changing its plans for Patch, it's network of local news sites. We've heard from insiders that the division is pivoting away from a human editor centric model, toward one where local sites ("Patches") are built to be content-sharing and community-organizing tools for their areas.
President Obama claimed for increase in minimum wage to $9 per hour. Facebook won a lawsuit in Germany over users privacy rights. Vodafone will dismiss 620 employees in its Spanish department. India’s Current Account Deficits might reach $87.9 billion in 2012.