New Delhi: It has been close to six months that AOL got acquired by Verizon and AOL is still trying to adjust the change. The media company has laid off 100 employees from its dial-up department as an attempt to realign its structure to Verizon’s.
According to the latest TechCrunch report, the recent layoffs took place in the marketing, advertising and membership division. AOL’s senior VP Brand and Communications Caroline Campbell said that it is a necessary step towards strategic realignment to place customers at focus of their business’ operations.
In May, Verizon acquired AOL in a $4.4 billion deal as they prepared to launch their Over-the-Top Go90 mobile video services this fall. At that point, Verizon believed that the deal would enable Verizon access to AOL’s large digital segment.
Shortly after the acquisition, AOL went for leaner operations and laid off 150 of its employees, mostly in sales. AOL currently has around 6,000 employees.
AOL is an American multinational mass media corporation based in New York City that develops, grows, and invests in brands and web sites. The company's business spans digital distribution of content, products, and services, which it offers to consumers, publishers, and advertisers. AOL originally provided dial up service to millions of Americans. At the height of its success it merged with media conglomerate Time Warner. As dial up rapidly lost ground to broadband in the mid-2000s, AOL's fortunes significantly retracted and it lost the vast majority of its value, laying off thousands of employees