AOL CEO Tim Armstrong told Patch editors Friday there would be no “impacts,” or layoffs announced today. The “impacts” will arrive on a rolling basis over the next week, he said.
Armstrong said in an earnings call earlier this week that AOL would sell or close as many as 300 underperforming Patch sites.
In the call Friday, Armstrong said Patch would spend the next week looking at options for 400 of the local news initiative’s 900 sites. They’ll fold or Patch will find partners to run them. “We’re going to become a fast-moving company and fast-moving partner company,” Armstrong said.