AOL almost completes layoffs

Time Warner Inc.’s AOL continuing its bid to restructure the online unit’s business model layoff around 450 workers at the Dulles headquarters. AOL has not kept it secret anyway that it has plans to layoffs around 5000 workers to reduce it work force to 14,000. The company is doing away with its traditional subscription based service provider to an advertisement based revenue model. Following its announcement of broad plans AOL has closed all four of its domestic call centre and all of its operational call centers are located overseas, in India and Philippines. Earlier the company had said that it would bring down the workforce from layoffs and transferring them to new companies, however, it is not known yet how many workers are laid off through transfer. As of now, the company has retained around 3000 employees in Europe where it has already sold off most of its internet access businesses. The fate of these employees has not been disclosed yet. The company will definitely cut short the strength there in Europe but how many of them would be retrenched is not clear at present. The Time Warner has stated that it would invest roughly $250 million to $350 million next year in order to bring changes at AOL.