Tim Armstrong has begun to shape AOL to his liking, four months after Time Warner announced the much-diminished internet conglomerate's spinoff. Here's the internal memo in which the CEO calls some serious buckling down — and jettisons two executives.

Armstrong, the former golden boy of Google's advertising side, was hired just this past spring and has long been expected to initiate a massive restructuring. In his memo, he discusses a strategy session that nailed down where, exactly, the company is going. He also confirms his first two firings, reported previously by Business Insider: longtime company execs Kim Partoll, the COO, and Local, Mapping and Search boss John Kannapell. Both were hired shortly after AOL's disastrous merger with Time Warner.

He also mentions a "Project Everest:"

We have a strong strategy and we need to be laser focused on execution. We are planning another video update next week with a progress report on Project Everest, and I look forward to seeing you all then.

We look forward to that video, too! Full memo: