Patch Cuts Back
AOL’s Patch network is cutting back in the hopes of turning a profit by the end of 2011, reports Forbes. That’ll be tough to do if it keeps losing money the way it has. In the first quarter it lost about $40 million, and in 2Q the sites lost almost $12 million. Sadly, it seems the way Patch is going to fix things is by asking more from less:
In the last few weeks, Patch’s 800-plus editors have been told their budgets for freelance assignments are being reduced, in some cases severely.
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