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Rabu, 04 Februari 2009

TIME WARNER LAYOFF: 1250 JOBS TO BE CUT in AOL+WARNER BROS.

TIME WARNER LAYOFF
Time warner, owner of well known internet unit AOL, and film studios Warner Brothers. has decided to cut 1250 jobs as it forecast flat earnings in 2009. Warner Bros. had announced earlier this month that it would cut 800 jobs while AOL had planned to cut 700 jobs.

Time Warner LayoffsReasons for Time Warner Layoff, Warner Bros. Layoff, AOL Layoff
Time Warner reported a huge loss of $16 billion in the fourth quarter of 2008 mainly due to write downs on its cable, publishing and AOL assets. Time warner forecasts flat profit in 2009.

sources: Reuters, Nytimes

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