AOL confirms 300 staff to go

NEWS AOL has confirmed that it is to axe 300 staff as part of an aggressive cost-cutting strategy at the firm. The cuts represent almost two per cent of AOL's total workforce and are expected to come at the company's head offices in Dulles and Reston, Virginia. However, analysts and sources close to the situation quoted by Reuters believe the cuts will be the first of many as the company restructures itself.