AOL Current Event Blog

Because of money shortage and more reasons, the United States is in a reccession at this time. As a result, many hundred of thousands or even millions of peoples jobs are lost or layed off. Losing your job or getting layed does not just occur with certain occupations. The AOL company proves this. Starting December 4th and until December 11th, AOL said it will be searching for participants to lay off. In addition, once all of the laying off is done, AOL will decide what jobs will get layed off. After all of this tradgedy occurs for a lot of AOL workers, about one third of the entire jobs at AOL will be lost. This is an estimate of about 2,300 people losing their jobs. As AOL's Chief Executive, Time Armstrong has decided to give up his 2009 year bonus . Armstrong giving up his bonus adds money to go towards the company. I think Armstrong's actions represent his maturity and dedication he is to his job and company as well. Plus, even though one persons bonus is a small amount of money compared to the whole businesses, it still makes a difference because everything has to begin from something small. Along with money, it is estimated that the restructuring will save AOL 3 million dollars annually. However, it will cost about 2 million dollars within the first years. Overall, the AOL company is at an advantage gaining more money that lost. With this, hopefully the employees who unfortunately get layed off or lose their jobs, will be able to regain what they loss during the time of this recession.


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