AOL (NYSE: TWX) announced about 100 layoffs earlier this week and more to come, along with continued restructuring. In an SEC filing, AOL (using the NYSE symbol AOL) and Time Warner outlined some basic costs associated with the moves, following the spinoff and into the first half of 2010: “In connection with these additional restructuring activities, AOL expects to incur additional restructuring charges of up to $200 million, substantially all of which are expected to be incurred from the date of the Spin-off through the first half of 2010. The Spin-off is expected to occur in the fourth quarter of 2009.”

What this means is there are lot more layoffs to come, as has been reported by others recently. About 1,000 of AOL’s roughly 6,000-member workforce could lose their jobs by the time the staff reductions are done, according to estimates. These new cuts, both people and costs, are part of CEO Tim Armstrong’s “Project Everest,” which he has said is designed to look at streamlining roughly 10 individual teams at the company. (via Mediamemo)

—Staci adds: AOL estimates Q4 restructuring will run up to $20 million. Trying to avoid major surprises for investors and analysts without completely telegraphing Armstrong’s plans, AOL describes the pending Q1 changes carefully: “Shortly after the spin-off, we plan to undertake additional restructuring activities to more effectively align our organizational structure and costs to our strategy. We are also evaluating the countries in which we operate as part of the effort to align our cost structure, and we may decide to cease or reduce operations in certain countries.” Will that be it for the year? I’m hearing some whispers the cuts could go deeper than the estimated 1,000 or so but that might not happen all at once. 

• AOL Begins Layoffs; 100 To Be Let Go Today