This coming Tuesday and Wednesday will not be remotely jolly for some AOL employees; according to various reports, another round of layoffs is in the making.
Numbers are nonexistent, so we remain unsure of just how widespread the firings will be. Yet Henry Blodget writes, “[W]ord is the Products and Sales teams are going to take the brunt of the whackage.” And given that the last cuts hit some 2,000 people, it’s unlikely that just a handful will be affected.
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On the bright side – and honestly, I’m stretching, but not being sarcastic – at least these soon-to-be ex-AOL employees will get a jump on members of Yahoo Europe in the job hunt. Also, this isn’t such a terrible time of the year for them to spend extra time with their families.
The entire economy seems to be turning sour, though, and there’s good reason to fear that we’ll be seeing more and more of these stories over the next few weeks. Not to mention articles about entire sites and companies shutting down, as we learned that MingleNow is expected to do.
More: continued here
i live in tucson and in the 90s and early 2000s, aol was HUGE here in the customer service/retention areas. they had to add-on to existing buildings and they even built their own complexes. slowly but surely, everyone started to get laid off. aol overall is just a shell of what it once was. the kids who used it back then have grown up and moved on and the kids these days use myspace/facebook.
The American economy is in a bit of a tailspin, and it is getting increasingly more and more difficult to tell just when or where, or whether it will ever recover. Consumers are finding themselves having to take out more payday loans in these times, in order to be able to meet the mortgage payments, the doctor bills, or put food on the table. The mortgage crisis has hit the economy hard, and the mass layoffs that have begun are not helping matters. Adobe just laid off 600, Viacom laid off 850, NBCU is about to drop 500, and AT&T has decided to cut 12,000 jobs from its payroll. The massive amounts of people let go are just exacerbating the problems, though they may be necessary evils. Consumers are bearing the brunt of the bill, especially when the Treasury agrees to spend over $800 Billion of the taxpayer’s money to bail out the banks that have helped to cause this fiasco. These banks are now starting to clamp down on the very consumers whose tax dollars kept the bank execs employed, by making credit more and more difficult to obtain, even to those with good credit, and raising their fees for things like late payments or overdrafts. Perhaps there may be a positive, when we, as consumers, now know the dangerous consequences of too much credit use. If we as a nation don’t go bust from this, we may come out of it stronger and more cautious when it comes to using credit and debt. Click to read more on payday loans.