AOL Inc Makes Job Cuts At Local News Group Patch-Reuters


Friday, 16 Aug 2013 05:18pm EDT 

Reuters reported that AOL Inc said on August 16, 2013 that it would cut a substantial number of jobs at its money-losing Patch local news site business, and a source close to the Company said about half of the staff of 1,000 was being laid off. Job cuts will reduce 10% of AOL's workforce, the Company said in a regulatory filing late on August 16, 2013. The company said it would consolidate or close some Patch sites to cut costs and partner with other media companies in some locations. It did not say which media companies it was speaking to or reveal which sites it would be shutting down. 

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