AOL Layoffs: What Division Will See the Most Cuts?

A new round of AOL layoffs (NYSE:AOL) has been announced.

AOL LayoffsThe company has laid off about 100 employees as part of its integration with its new corporate parent Verizon (NYSE:VZ). AOL was acquired by the company earlier this year for $4.4 billion.

The cuts were made as some of AOL’s division overlapped with existing Verizon divisions. “We are aligning the organization for the same level of growth in 2016,” said an AOL spokesperson.

Up to two-thirds of the cuts are in AOL’s membership division, which handles legacy business, including its dial-up service, as well as AOL Mail and AIM.

The layoffs make up about 2% of the company’s employees.

VZ stock is down 0.9% Tuesday.

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Article printed from InvestorPlace Media, https://investorplace.com/2015/12/aol-layoffs-aol-stock/.

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