AOL has notified 40 employees they'll be laid off, and the AOL Instant Messenger group has...

|About: AOL Inc. (AOL)|By:, SA News Editor
AOL has notified 40 employees they'll be laid off, and the AOL Instant Messenger group has reportedly been "eviscerated" in the process. In spite of its huge share losses, AIM is still believed to generate nearly $50M in annual revenue. With the cuts, AOL reportedly hopes to lower AIM's expense rate to a mere $2M-$3M, and run the business as a cash cow. Additional job cuts are likely on the way. (earlier)