AOL To Layoff 1,400 Employee In This Week
AOL needs to do lot of things to get the company back on track. There were plans to shut down some business that is not important to the company and then moving forward it decided to cut cost in the firm. So it came up with an idea of “Project Everest”, that wanted thousands of employee to leave the firm. AOL actually wanted 2,500 employees voluntarily to leave the job, but apparently got only 1,100 people willing to quit. Now it is time for AOL to perform mandatory removal of employee.
In an internal memo to HR staff, AOL made the statement that it was proceeding with involuntary layoffs.
In November, we announced that the company would take a $200 million charge and that we planned to decrease the size of our global workforce by one-third. Late last year, we offered Voluntary Separation Program to enable employees to decide what was in their best personal and professional interest. We had approximately 1,100 employees opt to join the Voluntary program. At that time we announced the Voluntary program we noted that if we didn’t reach our target reduction of a third we would need to follow the voluntary program with an involuntary action. We did not reach that target.
The next phase of our restructuring plan will include an involuntary layoff. Our process internationally varies by country and is subject to local laws. We began meeting with employees throughout Europe today. For example meetings have already taken place in the UK, Germany and France, and we announced plans to shut down many of our offices in Europe, beginning with those in Spain and Sweden. In addition, we will be beginning the consultative process with the Workers’ Councils in relevant countries this week.
About 1,200 to 1,400 people are expected to get layoff by this week, although AOL doesn’t clearly state if it plans to reach the initial goal of 2,500 people all in one go.
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January 13th, 2010 at 4:05 am
AOL To Layoff 1,400 Employee In This Week http://goo.gl/fb/kVTZ
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January 13th, 2010 at 6:32 am
News: AOL To Layoff 1,400 Employee In This Week http://goo.gl/fb/kVTZ
This comment was originally posted on Twitter
January 13th, 2010 at 11:03 am
News: AOL To Layoff 1,400 Employee In This Week http://goo.gl/fb/kVTZ
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November 30th, 2011 at 2:23 pm
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