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11/02/2004

AOL's greed sends 700 jobs out the door

America Online, the world's largest Internet service provider, plans to lay off about 700 jobs of its U.S. work force as it faces an ever-dwindling subscribership, a source close to the company said on Tuesday.
AOL, a unit of media conglomerate Time Warner Inc., has lost millions of subscribers to lower-cost rivals and higher-speed cable and telephone Internet services over the past few years.

Commentary:
I never cared for AOL and hated its merger with Time-Warner/Turner Broadcasting, but nontheless I feel for the 700 employees who are set to lose their jobs.
They can say its because of not being able to match competitive prices and the rise of broadband, but what it comes down to is those at the top got too greedy (sound familiar) and are wanting to make sure they can keep their corporate pockets lined while their employees get the ax.
AOL could have saved those 700 jobs if only they would have taken cuts in pay at the very top from the CEO and main company brass, but instead they chose the easiest and greediest path of laying off workers.
Its time to take back America and it begins in the workplaces.

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