AOL To Fire Hundreds By Friday

tim armstrong, arianna huffington, top gun

Already rumoured to be underway in India, AOL layoffs will hit stateside this week, Forbes’s Jeff Bercovici reports.

In a filing with the SEC following its Huffington Post acquisition, AOL announced that it expects “restructuring charges” due to “cost overlap” to total $20 million in 2011.

We think that means this layoff won’t be a big one.

When AOL cut ~1,400 people in early 2010, the restructuring charge was $150 million.

We can’t use that number to figure out exactly how many people AOL will fire this week because those 2010 cuts had a bunch of buyouts, too, and those are more expensive than layoffs. You can safely asssume AOL will fire hundreds of people this week, however.

Bercovici – a former AOLer himself – says Friday will also be the day new AOL media president Arianna Huffington will “make a big announcement about the shape of things to come.”

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