AOL, part of the AOL Time Warner empire, is to make 300 redundancies from its Virginia-based internet service provider as the first step in achieving its plan to save more than 拢100m, announced last week by chief executive Jon Miller.
Miller said last week that he aimed to save a "nine figure" sum, believed in the industry to be more than $100m (拢63.4m). Reports suggest that the number of layoffs could match the 1,925 it made last year, shortly after it completed its merger with Time Warner.
Yahoo! said on Tuesday it is to cut staff from its broadcast services division, however, it has not revealed how many jobs would be lost. Yahoo! employed 3,587 staff at the end of September and it is not known how many will be affected.
Last year, it let 660 employees go, as part of a cost-saving strategy that helped it achieve earnings of $50m in the last two quarters, following a low period that saw it lose more than $244m.
AOL's cuts come as it faces an investigation over the way that advertising revenues have been booked at the online service.
In October, AOL Time Warner said it had uncovered $200m of advertising deals falsely booked as income as a result of "inappropriate" accounting.
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