Peter Kafka

Recent Posts by Peter Kafka

AOL’s Mass Layoffs Will Cost $200 Million

AOL formally acknowledged that it plans on a round of very large cuts: In a filing with the Securities and Exchange Commission, the Time Warner (TWX) unit said it plans on taking up to $200 million in restructuring charges through the first half of 2010. Earlier this week, Kara Swisher reported that AOL’s coming spinoff would be followed by layoffs of up to 1,000 employees.

Some perspective: As I noted last week, AOL has already spent $83 million on separate restructuring efforts through the first nine months of this year. And parent company Time Warner has said it will spend $100 million on its restructuring/mass layoffs at its Time Inc. publishing unit.


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The problem with the Billionaire Savior phase of the newspaper collapse has always been that billionaires don’t tend to like the kind of authority-questioning journalism that upsets the status quo.

— Ryan Chittum, writing in the Columbia Journalism Review about the promise of Pierre Omidyar’s new media venture with Glenn Greenwald