When AOL decided last month to spend $315 million on Huffington Post, the internet’s eyebrows raised in confusion about how the struggling company could afford such an acquisition.
Bloomberg revealed at least part of the answer, reporting AOL will cut 900 jobs — 15 percent of its workforce — as it integrates HuffPo under its umbrella.
Indian offices will take the brunt of the bloodshed, losing 700 jobs. CEO and Chairman Tim Armstrong said 300 of the laid off employees from those offices will continue to work for the company in an outsourced capacity. He said American offices will lose 200 workers, who can take solace in the fact that Armstrong takes these things personally. He says:
“The changes for me today are very personal. AOL employees deserve a tremendous amount of credit because I don’t think it’s easy to go from managing decline to managing growth.”