NEW YORK -- Time Warner Inc.'s AOL will cut about 100 employees from its Web advertising-selling unit Platform-A as it consolidates various job functions, a company spokeswoman said on Friday.
Most of the cuts will be complete by the end of the month, AOL spokeswoman Tricia Primrose said. The unit employs about 1,600 people, she said.
AOL has spent about $1 billion buying companies in the past 18 months such as Tacoda, Quigo and buy.at that it is using to build up its Platform-A unit, Primrose said. Buying these companies has resulted in some jobs that are duplicative.
"At the end of the day, it's about consolidation," she said.
Time Warner shares rose 23 cents, or 1.57 percent, to close at $14.84 on the New York Stock Exchange.
