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AOL is planning to lay off about 2000 staff (20% of its workforce) in an effort to cut costs and continue its repositioning as  an online ad supported business.

"This realignment will allow us to increase investment in high-growth areas of the company — as an example, we added hundreds of people this year through acquisitions — while scaling back in areas with less growth potential or those that aren't core to our business," said Randy Falco, AOL Chief Executive .

According to Falco, their goal is to be the largest and most sophisticated global advertising network for marketers to reach that online audience.