AOL Time Warner's 24-hour cable network, CNN, cut 20 employees from its interactive unit in the United States and internationally, a CNN spokeswoman said today.
The cuts come on top of the 400 layoffs at the network announced earlier this year following the completion of America Online's $106.2 billion purchase of Time Warner in January. The layoffs were part of a broad restructuring to combine its new Web sites with its television operations.
The spokeswoman said there were no immediate plans for further job cuts. Almost 4,000 people work at CNN.
However, AOL Time Warner executives have repeatedly said they are reviewing their operations to eliminate weak businesses and unproductive headcount.
Internet media companies have been slimming down their businesses as they contend with the current climate of soft advertising spending and an unkind capital markets sentiment toward Web companies struggling to find ways to make money.
Shares of AOL Time Warner were down 83 cents, or 1.5 per cent, at $54.45, but up more than 70 per cent from the beginning of the year.