Time Warner&#39;s AOL Unit to Cut 700 Jobs -Source
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America Online, the world&#39;s largest Internet service provider, plans to lay off about 5 percent of its US work force as it faces an ever-dwindling subscribership, a source close to the company said on Tuesday.
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Time Warner Inc. reported a 7.8% decline in third-quarter earnings as it set up a $500 million legal reserve related to continuing investigations into its America Online unit.
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NEW YORK Time Warner, the largest US media company and owner of America Online, said Wednesday that its third-quarter profit fell 7.8 percent as it set aside money to pay for potential penalties stemming from a government inquiry into its accounting
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Seeking to cut costs and streamline operations, Time Warner will separate AOLâs Internet access business from its Web site and online advertising business and cut 100 jobs at its corporate unit.
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AOL, a unit of Time Warner Inc , said on Monday it will move its corporate headquarters to New York City from Dulles, Virginia, amid a realignment of its advertising business.
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America Online, the country&#39;s leading Internet service, is preparing to lay off as many as 700 of its 13,000 employees in the United States, according to an executive knowledgeable about its plans.
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AT&T Corp. T.N will cut about  7,000 jobs and reduce the value of its assets by $11.4 billion  due to its retreat from traditional consumer telephone  services, the company said on Thursday.
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Time Warner Inc., the world&#39;s largest media company, said third-quarter profit fell 7.8 percent after it set aside $500 million to resolve government investigations into its accounting practices at America Online.
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AT&amp;T Corp. (TN: Quote, Profile, Research) will cut about 7,000 jobs and reduce the value of its assets by $11.4 billion due to its retreat from traditional consumer telephone services, the company said on Thursday.
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Loudoun County officials said last week they regretted the decision by AOL to lay off about 450 employees at its corporate headquarters in Ashburn, but they predicted that the workers would be reabsorbed quickly into the region's economy.
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AOL, the world's largest internet services provider, is to split into four separate divisions to cut red tape and boost profits.
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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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Time Warner Inc.&#039;s AOL LLC online unit is considering giving away more of its services, including e-mail, to customers who already have a high-speed Internet connection, a person familiar with the discussions said Thursday.
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Time Warner has said that it set aside $500 million to pay for potential penalties from a government investigation into accounting practices at America Online, a step that led to a 7.8 percent decline in profit in the third quarter.
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Time Warner Inc. on Tuesday said a  strategy to offer most of online unit AOL's services for free  was making faster-than-expected progress in attracting new  Internet users and cutting costs.
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America Off Line Time Warner is to split up AOL - the ailing internet service provider and ad platform which paid $165bn for the film studio in 2001.â¦
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Time Warner Inc. said yesterday that it is creating a $500 million reserve in response to the federal investigations of its America Online unit and that it also will restate AOL Europe&#39;s financial results for 2000 and 2001.