MarketWatch is reporting the resurgent Internet company will hire 150 engineers for its Silicon Valley office while completing a layoff of a third of its employees worldwide.
The move is part of AOL's rebirth effort under new CEO Tim Armstrong, who recently said the company could acquire or invest in several startups as well.
And the company's history in the Bay Area could help. Or hurt.
AOL spent $4.2 billion to buy the now-forgotten Netscape in 1998. The company will reportedly move its new employees out of a former Netscape data center into new space.