AOL is shedding 500 jobs, 5% of its workforce, as the company pivots toward "mobile, video and data offerings", according to a memo by AOL CEO Tim Armstrong. tomorrow, AOL added 1,500 people to its payroll, following an advertising deal with Microsoft and the acquisition of Millennial Media. Armstrong said the layoffs are not connected to "current discussions" concerning AOL's potential acquisition of Yahoo, a deal that has been bogged down by a damaging cyberattack that compromised 500 million customer accounts.
AOL is shedding 500 jobs, 5% of its workforce, as the company pivots toward "mobile, video and data offerings", according to a memo by AOL CEO Tim Armstrong. Earlier this year, AOL added 1,500 people to its payroll, following an advertising deal with Microsoft and the acquisition of Millennial Media. Armstrong said the layoffs are not connected to "current discussions" concerning AOL's potential acquisition of Yahoo, a deal that has been bogged down by a damaging cyberattack that compromised 500 million customer accounts.