The layoffs are expected to occur within the next few weeks. Turnaround specialist hale global had purchased a majority stake in patch from aol, and initiated what it called a hard reset, which included hundreds of layoffs. Patch profitable, presumably, would involve mass layoffs layoffs that would. Verizonyahoo mergers new plan starts with 2,100 layoffs. Aol is planning another round of layoffs at patch, its struggling local news operation. Studio city, ca patch breaking local news events schools. Aols chief demonstrates the worst way to fire someone. Also the day before the conference call with employees, during aols q2 earnings call, armstrong had told wall street analysts that aol was planning to cut the number of patch local websites. But aols onetime struggling experiment in hyperlocal news has returned to.
The company actually grows, develops and invests in websites and brands. Aol latest headlines, entertainment, sports, articles for business, health and world news. The media blogger jim romenesko provided a link to what is purported to be an. As of june 2019, patch operated some 1,227 hyperlocal news and information websites in 50 u. The layoffs had been anticipated after aol ceo tim armstrong warned employees in a meeting on.
The company offers online products, contents and services to publishers, consumers and advertisers. Aols acquisition of the huffington post news and opinion website will. Aols patch local news sites to lay off up to 500 cbs boston. In central massachusetts, sam bonacci reported that as many as twothirds of the employees were fired.
Local patch editors among those hit by layoffs the coast. Coast cities all but one local editor was let go last week as part of the media organizations national layoffs. Jlavezzo writes several news sites are reporting that the united states largest isp has laid off 750 employees. And yet, armstrong quickly made a name for himself in new york. Armstrong confirms hundreds of layoffs at patch, 400. The trial pitting the east ramapo school district against. According to the wall street journal, aol plans to cut up to 50 jobs from its aim unit. In a memo to employees, aols chief executive, tim armstrong, announced on. Patch lays off hundreds, shuttered editor to start indie. Aol inc is a privately owned company in america that is popularly known as america online. Aol to slash 500 jobs at patch local news service aol. New city, ny patch breaking local news events schools weather. New city, ny patch breaking local news events schools.
A woman walks by the aol corporate headquarters on broadway in new york city. New york state new york city, ny area albany, ny area rochester, ny area arizona. C patch media corporation is the operator of the service. Patch looked like a failure when aol sold a majority stake in the hyperlocal media service, but hale global is turning it around. With the combination of aol and yahoo, the new unit has an audience of more than 1 billion, with a. My sources at aol put the actual number at approximately 950 regular employees and 300 contractors from various departments including new technology and marketing. Patch hit with sweeping layoffs as new owner hale global.
Monthly mls data for new york state historical data. The story behind why aol ceo tim armstrong fired an employee in front of. The losing school districts more than 190 of them may be forced to raise taxes to make up for losses in 202021 school funding. Of layoffs at patch, 400 sites shuttered or partnered off, and a new ceo. Armstrong confirms hundreds of layoffs at patch, 400 sites. The truth is that patch in 2019 is not that far off from the pitch former aol ceo tim armstrong used to deliver when he was proselytizing for patch years ago. Mass layoff statistics new york state department of labor. New owner of patch lays off hundreds the new york times. Ocean city, nj patch breaking local news events schools. Patch used to be a cautionary tale of the perils of solving the thorny problem of doing local news in digital media. Hundreds of employees of the hyperlocal patch sites were being laid off on wednesday as part of aols previously announced plan to spin off the moneylosing operation to a new joint venture. Layoffs and cutbacks lead to a new world of news deserts the veteran editor asks what happens when a community loses a newspaper or the reporting heart of one.
Two weeks after new york investment firm hale global agreed to acquire a majority stake in aol corp. Signs that aol was looking to unload patch began to emerge last year when aol eliminated about 300 of 1,200 patch sites and laid off more. The best breaking news, stories, and events from the patch network of local news sites. Todays cuts mostly in dulles, but taking place in new york and california too are. This organization was established in the year 1983 and then it was known as. Find new york news from the new york daily news, providing local news coverage for every new york city neighborhood. Patch is an american local news and information platform, primarily owned by hale global. Just as the acquisition of the huffington post is closing, sources tell atd that layoffs are imminent at aol. New yorks unemployment system collapses from new coronavirus layoffs. Mass layoff data are published monthly and the extended mass layoffs data are published quarterly on the bureau of labor statistics mls web site. Aol will lay off several hundred employees, starting tomorrow the aol layoffs are finally here, and they are smaller than some had been expecting. Major layoffs loom for aol and yahoo, report says cnet. With the sales closure, aol laid off several hundred more staffers before turning control of patch over to hale.
Media reporter jim romenesko hears that local news network patchs new owners, hale global. Oath ceo tim armstrong confirms layoffs at new yahooaol. The great patch purge will be even bloodier than promised. More from new york city up next on new york city patch. In 2012 aol ceo tim armstrong made a commitment to turn patch around. Just two weeks ago, aol announced that it was handing over the majority stake in patch. New york city, ny aol conflict voot tech economic phone number and reconciliation. Patch lays off hundreds, shuttered editor to start indie news site. According to a source, heres how the firings went down.
At its aolowned peak, patch had close to 1,000 employees. It was actually cofounded by aol ceo tim armstrong. New york state new york city, ny, us area albany, ny, us area rochester, ny, us area arizona. We reported yesterday that aols hyperlocal news service would lose. Patch was founded by tim armstrong in 2007 before he purchased the company as aol ceo two years later. The local news platform, which relies on editorial staffers around the country, still has. Aol to impose more cuts at patch, its local news operation. Out of the more than 900 patch sites aol operates nationwide, only about 500 will remain under the. The cdc said its only a matter of time before the new coronavirus reaches new york. London, april 2 reuters initial tests in mice of a potential covid19 vaccine delivered via a fingertipsized patch have shown it can induce an immune response against the new coronavirus at. According to several people close to the situation, the new yorkbased internet giant will lay off up to several hundred. Allthingsd squares spacious new san francisco headquarters supposedly has the citys largest roof deck. Patch hit with sweeping layoffs as new owner hale global restructures. New york bistro owner finds lifeline in rotisserie chickens.
Many more layoffs should come next week, hundreds of patches will close. Layoffs hit patch as new parent company restructures. Neither hale global nor aol would comment on the layoffs. Layoffs begin as aol looks to close or sell 400 patch sites. With aol and yahoo set to merge under verizon, both companies could lose up to 1,000 employees between them. The service traces its history to an online service known as playnet, which hosted multiplayer games for the commodore 64. Among those being cut is vice president of aim products, jason shellen.