11/19/2009 - AOL is asking for 2,500 volunteers to accept buyouts as the company prepares to spin off from Time Warner (NYSE:TWX), according to an AP report. The company has about 6,900 workers total and plans to cut its work force by at least a third before the spin off but said it would resort to layoffs if not enough people will accept buyouts. The voluntary offer is open from December 4 through December 11, according to spokeswoman Tricia Primrose. AOL is looking to annually save about $300 million as the Internet provider faces the continuing decline of its traditional dial-up Internet business and an advertising slump. The offer still needs to be approved by the new board.

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