Layoffs hit Patch
AOL CEO Tim Armstrong told Patch employees in a conference call Friday the widely reported layoffs at the site will occur today. 60 percent of Patch sites had "real traction," he said, 20 percent had "significant traction" and another 20 percent would be sold or consolidated. Armstrong said he'd had meetings with major media companies about the Patch sites. Employees were told to await an email, apparently with details about another conference call.
I've also heard that some Patchers were fired in a separate phone call at 11 a.m. and told their last paycheck would be Aug. 23. Darrell Etherington says he's confirmed that with another source. Several people who are staying have told me Patch bigs told them they were on the "go forward team."
Peter Kafka's sources say "AOL will immediately let go of about 350 Patch employees."
Up to 150 more will be told their jobs are in limbo while AOL tries to find other media companies to operate some underperforming Patch sites. If it can’t find partners, those employees will also be out of work.
I've asked Patch for comment.