AOL to shed over 700 US workers: source

WASHINGTON, Nov 2 (AFP) - America Online is preparing to fire over 700 workers in early December, with many of the cuts coming from its US headquarters, a source familiar with the plan said Tuesday.
The source confirmed a report in the Washington Post, citing AOL officials, saying the layoffs were tied to the company's continuing loss of subscribers to quicker and cheaper Internet services.
AOL has been the largest Internet provider but has been rapidly losing ground as consumers switch to high-speed or "broadband" service, or to low-cost dial-up providers.
The news came as Time Warner, AOL's parent, was due to announce its third quarter earnings Wednesday.

11/02/2004 20:56 GMT - AFP