AOL to log additional $200M in restructuring costs
November 12, 2009
(AP) -- New regulatory filings suggest many more layoffs could be coming at AOL LLC as it separates from Time Warner Inc. by the end of the year.
In a filing Thursday, Time Warner said AOL will log up to $200 million in "additional restructuring charges" between the spinoff and the first half of 2010.
In a separate filing this week, AOL said the charges would be for restructuring in order to cut costs and streamline operations. The company said it might also close down or make cuts to its operations outside the U.S.
AOL also said it recorded $10.2 million in charges related to job cuts and $82.9 million related to facility closures in the third quarter. The company expects $20 million more in restructuring charges this year.
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