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NEW YORK - Time Warner Inc's internet unit AOL will eliminate 2000 jobs as part of an ongoing restructuring to better focus on boosting online advertising, according to a memo obtained by Reuters.
The cuts, which begin this week, amount to about one-fifth of AOL's global work force and are spread across operations in the United States and in Europe, where the company has sold off its internet access businesses.
AOL plans to boost investment in higher growth areas such as advertising, AOL Chief Executive Randy Falco said in the memo to staff.
Some unidentified senior executives will leave as part of the restructuring.
- REUTERS
