AOL announced layoffs of five percent of its staff today, with 500 employees expected to lose their jobs. In an interview yesterday, AOL CEO Tim Armstrong said that most of the cuts will come in its corporate units, while resources will be shifted more at mobile, video and data offerings going forward. See complete report from source:https://www.talosmart.com/news/120-500-employees-lost-job-at-aol-aol-ceo-tim-armstrong-annouced