AOL will be trying to reduce its workforce next month by one-third through a voluntary layoff program that will be open to all employees, including 400 people in its Advertising.com office in Baltimore, according to a company spokeswoman.
The voluntary layoff program will begin Dec. 4 and last through Dec. 11. AOL's owner, Time Warner Inc., is expected to spin off AOL into an independent entity on Dec. 9.
The company is looking for 2,500 volunteers to leave, and if they don't reach that number, they will need to do an involuntary layoff, according to Tricia Primrose, the AOL spokeswoman.
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AOL's owner, Time Warner, plans to spinoff the company on Dec. 9, and expects to take restructuring charges of up to $200 million.
Advertising.com is the company's advertising network and considered to be one of the "crown jewels" of AOL. It remains to be seen if any of Advertising.com's 400 employees in Baltimore will face the cuts.