AOL Inc., a New York based company and the internet company spun off from Time Warner Inc. in December, announced that it has launched a involuntary job reduction today after 1,100 workers accepted buyout packages as part of a $200 million restructuring.

Moreover, the company also plans to close its offices in Spain as well as Sweden, said Tricia Primrose, an official. Further, she said many of the affected United States workers will leave the company on January 13th.

Spain’s Telefonica has announced that it has acquired Jajah for 145 million euros (US$207 million). Jajah is a provider of Internet-based phones service with headquarters in the United States and Israel.

According to the statement issued by the former state monopoly, the all cash deal is subject to approval by Spain’s antitrust authorities.

Jajah will allow its customers to make free calls between its customers over the Internet or very cheap calls to the fixed-line as well as mobile numbers.