NEW YORK — AOL Inc. is laying off up to half the workforce at its Patch local news sites and shuttering or consolidating roughly 150 of the 900 sites while looking for partners for others.
Up to 500 of Patch’s 1,000 employees will go in the layoffs, which started on Friday with 350 people getting pink slips. In all, the layoffs amount to about 9 percent of AOL’s total workforce of 5,500.
AOL Inc. CEO Tim Armstrong co-founded Patch, an ambitious experiment in local news meant to compete with newspapers, in 2007. AOL bought it in 2009 after Tim Armstrong had taken over the helm of the New York-based Internet company.
Read more: http://www.timesleader.com/news/business/759140/AOLs-local-news-sites-to-lay-off-up-to-500