AOL confirms it is to cut 2,500 more jobs

NEW YORK - AOL is to cut a third of its workforce with the loss of an additional 2,500 jobs adding to the 100 that were announced last week .

AOL said the cuts would deliver cost savings of around $300m. The announcement comes ahead of its planned spin-off from Time Warner in December.

The news follow reports earlier this week that AOL-owned social networking site Bebo will see its UK sales team folded AOL's sales force as part of the company's plans to have a tighter integration across the company in the UK.

Earlier this year AOL cut 700 staff prior to the arrival of AOL chief executive Tim Armstrong from Google. Armstrong is attempting to reinvent AOL as a digital content company.

Yesterday, Time Warner-owned IPC Media in the UK announced it was restructuring and cutting a number of jobs including IPC Ignite MD Eric Fuller.