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AOL Cuts 5,000 Jobs

New York — AOL announced today it will cut about 25 percent of its workforce, the day after the company said it would no longer charge its high-speed subscribers for Internet services.

According to published reports, about 5,000 pink slips will eventually be given out. This follows an earlier round of layoffs in May that saw more than 1,000 customer service representatives let go. The cost-cutting plan is expected to go into effect starting in October.