Patch, AOL’s hyperlocal site, laid off around 350 employees today. The eliminated positions, which represent about 40 percent of the workforce, could increase to 500 if AOL doesn’t succeed in finding partners for some of the underperforming sites, ALL Things D reported this morning. For now, that leaves 150 people in limbo.
CEO Tim Armstrong was expected to announce 500 layoffs on a conference call last Friday (instead, Mr. Armstrong publicly fired a staffer for taking his picture during the call, and then sort of apologized for it this week).
Hard times are hitting Patch, AOL’s network of hyperlocal news sites. In an earnings call yesterday, AOL CEO Tim Armstrong said that he expects to shut, sell or find partners for nearly 300 of the 900 sites, Newsday reported this morning. Additionally, Mr. Armstrong said that layoffs will eliminate up to 500 positions, reported Jim Romenesko. Details of the layoffs will be announced on Friday.
Giving employees two days to speculate about upcoming layoffs understandably rankled staffers.
Yahoo! Local, the latest manifestation of Yahoo’s portal nostalgia, is up to 111 neighborhoods in Brooklyn, Queens and Manhattan.
Hyperlocal news! Daily deals! The new local Yahoo! is available in an optimized-for-mobile web version, and in the Android Market and iPhone App Store on Android and iPhone.
It’s also leveraging crowdsourcing. From the Read More