CNET: AOL layoffs due next month

CNET went and found its own anonymous source to confirm to it that AOL plans on firing 700 people next month. The cuts are expected across the board, focusing on the Virginia headquarters. This past year the company was criticized for hiring an outsourcing manager on the heels of a 450-person lay-off. AOL then started moving engineering jobs to India and Ireland. For the past year, AOL has been losing subscribers at the massive rate of the number of people in Montana (about 900,000) every five months. Its on-again-off-again strategy of repackaging Time Warner TV and print content online to lure subscribers hasn't seemed to stanch the flow yet, although new numbers should be reported this afternoon with the third quarter financial figures.