Patch, AOL's troubled local news division , will be on the chopping block today as another massive round of layoffs hit the group.
According to reports , during a conference call this morning, AOL CEO Tim Armstrong said he's cutting 350 jobs today, with the possibility of letting another 150 workers go if he can't find places for them within other properties in the company. He also said he's shutting down 40% of Patch sites effective immediately.
Out of the 900 Patch sites, AOL plans on keeping 540 of the most traffic heavy sites operating. Whoever doesn't survive the purge will be “consolidated” or "handed off to partners," reports allthingsd's Peter Kafka .
AOL released a statement about the cuts to the public:
“Patch, as previously announced, is taking steps to move to profitability. Patch’s strategy will be to focus resources against core sites and partner in sites that need additional resources. Additionally, there are sites that we will be consolidating or closing.
Patch has become an important brand across many towns in America. The Patch team across the country has served and will continue to serve communities with journalism and technology platforms. Unfortunately, with these changes we are announcing today, we will be reducing a substantial number of Patch positions. The people leaving Patch have played a significant role in making Patch an integral part of the communities it serves — and we thank them for their hard work and passion for Patch.”
Patchers, you can contact the author at: examiner.sergfranc@gmail.com
via Examiner National Edition Gadgets & Tech Channel Articles http://www.examiner.com/article/aol-ceo-tim-armstrong-we-re-laying-off-40-of-patch-staff-today?cid=roadrunner