AOL Cuts 500 Jobs at Dulles Site
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AOL told 500 employees at the company's Dulles headquarters today that their jobs would be eliminated, as part of plans announced this summer to trim its workforce and change the business strategy.
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The shedding of AOL's international operations continued Thursday as Time Warner announced it had sold its AOL France division to Internet service provider Neuf Cegetel in a 288 million euros. Talks to sell AOL UK are continuing.
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Computer Associates will cut 800 jobs,  the software maker said on Wednesday, reducing its work force 5  percent in its biggest cost-cutting effort since 2001 amid  slack demand and falling prices for software and services.
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Software maker Computer Associates  on Wednesday said it would cut 800 jobs, or 5 percent of its work force, to pare costs amid stiff competition in software and services.
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After 22 years in the Dulles/Reston area of Virginia, AOL will move the majority of its operations to New York City to be closer to the hub of worldwide advertising, which makes up a good deal of its new business model.
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Time Warner Inc.'s  AOL reached  a settlement with 48 states and the District of Columbia under  which it will change its policy on account cancellations,  officials announced on Wednesday.
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AOL said Thursday it expects to drop as many as 5,000 employees, or a quarter of its global work force, within six months as the company restructures its business to draw more online advertising dollars.
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AOL laid off more than 450 employees at its corporate headquarters yesterday as part of plans announced earlier this year to cut costs and change the company's business strategy.
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Nortel Networks Corp. will cut 10 percent of its workforce, or around 3,500 jobs, to reduce costs.
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AT&amp;T Corp. announced Thursday that it is cutting at least 7,500 more jobs and slashing the value of its assets by $11.4 billion, drastic moves prompted by the company&#39;s plan to retreat from the traditional consumer telephone business.
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Battered by a downturn in the housing market, the company is laying off 500 workers at its headquarters in Atlanta, or about 10 percent of its work force there.
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Bank of America has an option to cut at least 4,500 jobs while reorganizing its structure. This is not the first time when the bank reduces jobs.
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Company cutting 375 jobs to eliminate redundancies in wake of ATI acquisition.
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Firm follows AOL as second high-tech company to depart recently from Washington region.
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Time Warner's struggling Internet unit AOL said it was likely to lay off about 5,000 employees, or a quarter of its global workforce, in the next six months.
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EarthLink Inc said on Tuesday it will cut about 900 jobs, or nearly half its staff, as part of a restructuring to reduce costs at the Internet service provider.
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Nortel Networks Ltd. (NYSE/Toronto: NT - message board) today fleshed out its staff reduction plans by announcing that 3,250 posts will be cut, down from the expected 3,500 (see Nortel Cuts 3,500 Jobs ). North