Aol, who in recent news have had a flurry of re-design - including a big list in which they redesigned their logo, site design, become more of a news site incorporating an algorithm, and aimed to become more attractive to advertisers - are now changing more.  It's internally known as "Project Everest" (Everest being a somewhat tall montain) and as part of it layoffs are on the way.  Not a surprise to those who believe Aol is on the way out, 1200 to 1400 staff will be laid off and on Monday they announced the beginning of the P45 handout.

Some European offices are to close in order to meet their targets of scaling-down one third of the Aol global workforce.  1,100 staff accepted a buyout package that was offered in December (three to nine month's pay + benefits) and now, with 2300 staff not going for this opportunity another 1200 staff are to be dropped.

Next in plan is its final transition to an ad-supported digital company, away from its old internet provision.  Essentially they hope to become top-dog on the news and entertainment front.  Once Project Everest is completed, the idea is that annual costs will be down by $300 million, and Aol expects to be burdened with $200 million in charges.

“We have assessed every aspect of this business. We measured our competitive position and product portfolio in every market -- and we asked the hard questions about areas that were no longer core to the strategy and our profit profiles in the businesses and countries where we operate." Aol spokesperson, Trish Primrose said.

“All of our cost alignment work is about ensuring Aol's sustainability and future success."