Patch Layoffs, Site Shutting Begins: Reports

Per TechCrunch, hundreds of layoffs in motion

There's been a lot of talk over the past few days about whether AOL was going to start laying off Patch employees immediately or on a "rolling basis," start selling or shutting down some Patch sites, and maybe even dump its CEO.

Well, according to TechCrunch, it's happening, with "notifications of who will be let go coming throughout the coming week."

During the earnings call, AOL CEO Tim Armstrong revealed that several hundred Patch sites will be sold or shut down. At one point, there were 900-plus local Patch sites although the initiative has always bled money.

Patch will also no longer have its own boss. According to Business Insider, Patch CEO Steve Kalin was out of a job after just a few months. Going forward, per TechCrunch, Bud Rosenthal, who runs AOL's Paid Services and Membership group, will now oversee Patch, along with more oversight from Armstrong himself.