Aol was once an internet juggernaut and one of the most promising companies of its time, but as we all know, all of that has long since passed, and the company is still struggling to remain relevant. Now according to TechCrunch, which is owned by Aol, the company is about to undergo a massive restructuring that will see many people layed off and websites taken down.
Aol, owner of TechCrunch, is gearing up for some housekeeping. TechCrunch has learned that the company is preparing to lay off staff and close or fold up underperforming titles as part of a bigger restructuring, aimed at simplifying the company around ad tech, stronger content operations and video. Or, as one source put it to TechCrunch, “stopping things that are not moving the needle while investing in things that are.” To be clear: while TechCrunch is part of Aol, we on the editorial side are not privy to what happens at a corporate level. We received this info by way of an anonymous tip (as many of our stories begin), and then started to ask around.