After a while–in a BoomTown mangling of the old cliché–if you are a nail, everything begins to look like a hammer.

So, it is probably inevitable that the next thing for much-beleaguered AOL staffers to start rumbling about is 2,000 people getting laid off next week.

After all, the Time Warner unit has a long history of whacking employees. So, it is easier to assume things will not be different under the regime of the latest CEO, Tim Armstrong.

Except it’s not actually true that such massive cuts are in the offing, since–as many sources I spoke to said–Armstrong is in the early part of figuring out what to do about the cost structure of AOL, after laying out a company strategy and rejiggering management.

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In Web years, BoomTown is now officially 143 years old.

Why? Well, I was the one who got to write the big Page One piece in The Wall Street Journal after GeoCities was sold to Yahoo in January of 1999 for $5 billion in stock.

GeoCities was, in its way, the Facebook of its time. But, instead of “friends,” its users were “homesteaders.”

As Cher so eloquently sings: Those were the days my friend, we thought they’d never end.

Except they did. Yahoo announced yesterday that it was closing the GeoCities unit down, part of new CEO Carol Bartz’s war against useless assets at the troubled company.

But let’s take a stroll down memory lane, shall we?

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Here is the letter AOL CEO Randy Falco has penned to the entire staff about its layoffs of 10 percent of its workforce–or 700 people–and other cost cuts, which the online service is announcing today.

“We’re at a pivotal point in AOL’s transformation, and need to be even more strategically focused and operationally efficient as we weather the economic storm,” wrote Falco, in part, about the move.

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Time Warner online unit AOL is cutting 700 employees due to the weak economy and the ensuing falloff in advertising revenue, but also because of recent structural changes made to refocus the once-mighty service.

AOL CEO Randy Falco sent a memo this afternoon to AOL staff about the layoffs and other cost cuts being made, confirming the moves.

Other changes: Goodbye to raises and a hello to a consolidation of AOL’s facilities.

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One of the more interesting quarterly earnings calls to watch carefully is going to be Time Warner’s in two weeks.

Why? Well, in the digital space, it is because of its long-suffering online unit AOL and what results it will show. More importantly, though, is what AOL’s performance will mean for the attempts Time Warner CEO Jeff Bewkes has tirelessly been making to trade it away to Yahoo.

Last quarter’s results were pretty bad for AOL, which dragged down Time Warner’s results. Will it be even worse for the third quarter or not?

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Today, BoomTown will be spending the whole day–complete with lunch!–at Yahoo’s Sunnyvale, Calif., HQ to visit various and sundry execs in charge of a wide range of products.

Why? Well, as interested as I am in all of Yahoo’s always messy corporate and stock machinations, it’s just as important to get a handle on exactly what actual products and services the company is working on to get out of its quandary.

Because, while Yahoo is still talking about merging with AOL, it needs to have other options.

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