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Time Warner to Book $60 Mil Charge

Dec 10, 2004  •  Post A Comment

Time Warner on Friday said it would book a $60 million charge in the fourth quarter in connection with a restructuring of its America Online unit that will involve laying off 700 employees, or about 5 percent of the online service’s workforce, the company said in a filing submitted to the Securities and Exchange Commission.

The company said the job cuts, along with the attendant severance payments, will be completed in the first quarter of 2005.