Topics

Verizon Wireless
AOL's Patch local news service cuts 350 jobs; additional 150 in limbo
AOL's Patch local news service cuts 350 jobs; additional 150 in limbo

AOL Inc. on Friday plans to lay off 350 employees who work for the tech company's Patch local news websites, Chief Executive Officer Tim Armstrong said in a conference call with AOL staff. An additional 150 workers could lose their jobs by October, but are being retained temporarily while Armstrong searches for ways to inject outside money into the not-yet-profitable operation. AOL has Patch websites for 900 communities. Armstrong has said 60% of them do well. The 40% of them that don't are being shuttered or are in limbo. If all the cuts go through, Patch's workforce would be cut in half, according to Bloomberg. AOL said the moves represented an attempt to make Patch...

Loading