AOL Inc. is planning to fire about 150 workers and combine two of its websites into the tech homepage Engadget, a source close to the company disclosed to Bloomberg News.
"We have a globally talented team and it is the last place we want change and any actions are not taken lightly," the company's Chief Executive Officer Tim Armstrong wrote in a memo to staff on Friday, according to the site.
"Our talent is our biggest asset and we are aligning AOL with the opportunities we see in our business and in the future of the industry."
Although the memo mentioned that jobs at the company will be dropped due to changes in industry, it did not provide a specific figure. AOL, like many other large media corporations, has adopted new strategies aimed at simplifying its market endeavors and focusing on more successful projects.
The company has been most notably focused on digital advertising.
AOL will be closing down its website, The Unofficial Apple Weblog, on Feb. 2. The 11-team website recently celebrated its tenth anniversary and has covered the Apple company thoroughly throughout its existence.
"As we look out to 2015, our strategy and decisions will be driven by the following organizing principles," Armstrong said during the company's fourth quarter earnings call in November, Mac Rumors reports.
"Number one, we'll focus our capital allocation resource management and management time against scaled assets and platforms. Two, we will organize our asset portfolio around scaled value and scaled growth assets. Three, we'll simplify everything that can be simplified."
AOL was founded in 1991 as America Online and rebranded itself simply as AOL in 2009.
