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March 10, 2011
HuffAOL: Hey, you gotta cut somewhere
AOL announces 900 layoffs in wake of Huffington Post deal
NEW YORK (CNNMoney) -- AOL CEO Tim Armstrong said Thursday the company is cutting 200 jobs in the U.S. and 700 in India following its $315 million purchase of the Huffington Post.... Armstrong implied the content acquisitions are a positive for the "bunch of big shareholders who hold onto the stock." He said AOL stock had a "pretty small float," and he noted that he invested $10 million of his own cash in company stock a few weeks ago. Nonetheless, AOL's stock fell about 1% Thursday morning. Shares are currently trading near their lowest level since AOL was spun-off from CNNMoney parent company Time Warner (TWX, Fortune 500) in November 2009.
Posted by Vanderleun at March 10, 2011 7:27 AM. This is an entry on the sideblog of American Digest: Check it out.
Your Say
Ahhhh! What a delicious cool draught of schadenfreude!
Someone(s) @ AOL wasn't very diligent about where all that "talent" was coming from and what they were getting paid. A castle in the air spun from gossamer wings and unicorn farts by Arianna Le Fay.
With all that money, she's still unable to live down the sting of having unwittingly married a homosexual.
Either that, or she drove him to it.
Posted by: Anonymous at March 10, 2011 8:19 AM
Where do you think she learned about giving it to people in the rear good and hard?
Posted by: vanderleun at March 10, 2011 8:30 AM
Now it's AOL shareholders bending over. Drop trow, grab ankles and hope they brought the K-Y.
Posted by: Peccable at March 10, 2011 9:23 AM
Clue me in on how I can either:
1) Be a complete idiot like Armstrong and be a big-time CEO like he is, or,
2) Sell a dumbass, worthless website for gazillions of dollars.
Posted by: Don Rodrigo at March 10, 2011 12:45 PM
Peccable, you know how they say if you have to ask how much it costs, you can't afford it? Well, if you have to ask how to be a lying douchbag, you probably don't qualify to be one, either. Enjoy.
Posted by: sherlock at March 11, 2011 8:05 AM
Hell, I meant that for Don R.
Posted by: sherlock at March 11, 2011 8:07 AM