According to a source familiar with the business, America Online (AOL) is planning to cut 5 percent of its U.S. work force. AOL has experienced financial trouble as more users leave the service for high-speed broadband connections. It is expected that most of the cuts will occur in northern Virginia, where AOL is based. A company spokesman declined to comment on the reports.
See "Source: AOL to Cut 700 Jobs Next Month", The New York Times, November 1, 2004