AOL Time Warner made significant job reductions throughout the company Tuesday but insisted that the cuts were aimed at eliminating redundancy following the recent merger. "In no area are we cutting into the muscle of the company," an AOL Time Warner spokesman told today's (Wednesday) Los Angeles Times. The company also said it planned to sell its Warner Bros. Studio Stores or, if a buyer can't be found, close them. Including Tuesday's layoffs, some 1,675 positions have been eliminated at Time Warner and 725 at AOL since the Jan. 11 merger. If the stores are closed, another 3,800 would be laid off.

Source: Studio Briefing