AOL Severance Agreements

AOL Inc. on Monday started laying off employees and said it would close some European offices, after failing to reach its goal of cutting about a third of its staff through a voluntary buyout program. About 1,100 employees accepted the buyout package, offered in December and aimed at cutting some 2,300 jobs. Volunteers received three to nine months’ pay and other benefits, depending on rank, according to a person familiar with the situation. Employees who are laid off involuntarily will receive a package of one to four months’ pay and other benefits, this person said. That leaves AOL with about 1,200 more jobs to eliminate. A spokeswoman said the cuts will be across the board. Please contact us in the event you have been offered a severance package by AOL.