New York - Needing to drastically trim costs as it prepares to separate from parent company Time Warner (NYSE: TWX), AOL said on Thursday that it plans to trim its workforce by about one-third -- approximately 2,300 workers -- through a combination of voluntary and involuntary layoffs. The company said that the goal of the restructuring is to reduce its annual operating costs by $300 million.

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DailyFinance: I recently wrote about my latest plan for averting financial disaster by selling one of the two vital organs currently processing urine and regulating electrolytes and homeostatic function on each side of my abdomen. After all, in these times, we all ... Read more

DailyFinance: AOL after Time Warner will be a substantially smaller company, at least in terms of the number of people it employs. The Internet pioneer, which is the parent of DailyFinance, revealed the rough outlines of a long-anticipated downsizing Thursday, ... Read more

DailyFinance: Remember Steve Case? He's the guy that used to send you diskettes in the mail to get you to sign up for America Online so you could dial-up to the Internet. Then, in January 2000, he sold AOL to Time Warner (TWX) -- ultimate parent of DailyFinance -- ... Read more

St. Petersburg, Fla. - Credit card giant American Express said on Wednesday that it will pay approximately $300 million to acquire Revolution Money, the Florida-based online payments company launched in 2007 by AOL co-founder Steve Case.

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As AOL lays off a third of its work force as it prepares to go independent, it’s looking to drop its ICQ and MapQuest units, according to reports by Kara Swisher. But with the deluge of information hitting web users these days, location and presence are two of the most promising ways to parse the [...]

AOL CEO Tim Armstrong this morning informed staff that the company will be looking for 2,500 people to voluntarily hand in their resignations, which would represent about one third of the company’s payroll. The news comes a mere week after AOL, which is preparing to spin off Time Warner and go public, said it would be firing at least 1,000 employees and spend about $200 million cleaning house prior to the planned IPO.