AOL layoffs could be coming
Just as the acquisition of the Huffington Post is closing, sources tell ATD that layoffs are imminent at AOL.
There's no question it's a jarring contrast: layoffs versus champagne and cookies.
But that's the reality at AOL as its acquisition of the Huffington Post closes this week, even as it plans to sheds employees as part of its ongoing turnaround effort.
Sources said the New York-based Internet portal will announce layoffs soon.
AOL CEO Tim Armstrong indicated job cuts were definitely coming at a PaidContent conference in New York yesterday.
"There will be job changes," he said, when asked about layoffs.
Perhaps sooner than later.
Several sources close to the situation confirmed that the layoffs are imminent. Nonetheless, they could not specify the timing, size, or scope of them.
The last time AOL laid off employees a year ago, it was a large action with job cuts of 2,300.
The latest slashing comes just as AOL management will try to aggressively tout the closing of its $315 million purchase of the Huffington Post.
The integration of the well-known news and opinion site will mean a significant change for AOL's editorial efforts, as well as an opportunity to impress advertisers.
Thus, AOL is prepping boxes with Greek cookies and pricey champagne to send out to key advertising clients, to celebrate the deal's close.
Why Greek cookies? Because it's the original country of AOL's new content head Arianna Huffington, co-founder and editor-in-chief of the Huffington Post.
I have e-mails into AOL for a comment.
Correction at 7:35 a.m. PT: AllThingsDigital's sources now say that layoffs are imminent but won't happen today.