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.

Reasons 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