Details of AOL’s Voluntary Layoff Plan

On Thursday WebNewser reported that AOL is seeking as many as 2,500 employees to step up and take a severance deal.

Now the Wall Street Journal has some details on AOL’s “Voluntary Separation Program”:

The company said Thursday it is asking for up to 2,500 people across all divisions to take buyout packages during a one-week program starting Dec. 4. If AOL doesn’t reach that target, it intends to make involuntary layoffs, leaving the company with about 4,400 employees. …

Employees who volunteer in December to give up their jobs will receive three to nine months pay and other benefits, depending on rank, a person familiar with the matter said. Employees who are laid off involuntarily will receive a package of one to four months.

Interestingly, WSJ reported, even amid the layoffs AOL is hiring for “some positions that [CEO Tim] Armstrong has pinpointed as essential to its growth, such as journalists.”

Armstrong, a former Google executive, is attempting to reposition AOL from provider of subscription-based services to digital content powerhouse.

Related Stories
Mediabistro Course

Creative Social Branding

Creative Social BrandingLearn how to create social buzz for your brand! Starting November 24, the VP of content strategy at DBA will teach you how to speak and write to different audiences on social platforms, identify and engage with current trends and influencers, and build an excellent social strategy to amplify your numbers and rate engagement. Register now!