Time Warner&#39;s AOL to reduce headcount by 700
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MUMBAI: In a bid to reverse its declining fortunes through cost cutting measures Time Warner&#39;s unit America Online which claims to be the world&#39;s largest internet service provider will remove over 700 employees shortly.
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Time Warner Inc. and Comcast Corp. on Monday said they have agreed to allow Comcast to cut its interest in Time Warner Cable Inc. to 17 percent from about 21 percent.
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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. 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.
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Averting a looming court battle over how it has handled the exodus from its Internet dial-up service, AOL has agreed to make it easier for its remaining customers to leave as part of a $3 million settlement with 48 states and the District of Columbia.
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Time Warner plans to split up the Internet access and audience businesses of its AOL segment to run them each independently, Time Warner CEO and President Jeff Bewkes revealed Wednesday.
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Time Warner, the world&#39;s largest media-entertainment company, says it has agreed to pay a total of $US510 million ($668 million) to resolve federal probes into accounting irregularities at its America Online (AOL) units.
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NOVEMBER 02, 2004 (IDG NEWS SERVICE) - America Online Inc. plans to lay off 700 employees, about 5% of its US workforce, by the end of the year, several news organizations reported today.
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CABLE &amp; Wireless has unveiled another round of job cuts, with the announcement that it plans to reduce its head count in the UK and Continental Europe by 600.
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AOL accounts facTime Warner has finalised a deal with Federal authorities over fraud allegations against its AOL subsidiary. Under the terms of the deals, Time Warner will pay fines totalling some $510mn and
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NEW YORK -- AOL will disband a unit that handled subscriptions and give product managers more autonomy over designing services for consumers as the company increases its emphasis on generating advertising revenue.
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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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AOL on Monday confirmed to its employees the rumored departure of several senior executives and announced a reshuffling of top-tier management duties in a memo penned by Randy Falco,Â the new chief executive officer.
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Washington - America Online is preparing to fire over 700 workers in early December, with many of the cuts coming from its northern Virginia headquarters, The Washington Post newspaper said Tuesday.
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Time Warner Inc.  said on  Tuesday it would soon disclose its business strategy for  Internet unit AOL, dismissing a Wall Street Journal report that  it will lose up to &#36;1 billion through 2009 as it offers more  free services.
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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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Sprint Corp. FON.N on Friday said it  plans to cut up to 700 jobs as it realigns its business to  focus on wireless and Internet services and takes a non-cash  network impairment charge.