Report: AOL Time Warner to shed over 2,400 jobs

AOL Time Warner Inc. will lay off over 2,400 people, or 3 percent of the work force of the newly merged company, in an attempt to streamline its operations, according to reports in The Wall Street Journal and Daily Variety on Wednesday.

Representatives from AOL Time Warner could not immediately be reached for comment.

Of those unfortunate employees, 400 come from CNN News Group Inc., as announced last week.