Patch, the ambitious hyperlocal news website operated by AOL, is set to lay off as many as 500 editorial employees on Friday, according to two news reports.
The International Business Times and media journalist Jim Romenesko report via sources that around 45 percent of Patch’s 1,300 employees will be given pink slips.
Romenesko reported that Patch CEO Tim Armstrong suggested shutting around 300 of the site’s 900 hyperlocal news operations.
Jim Romenesko: Patch to lay off hundreds of employees on Friday
IBTimes: AOL to lay off around 500 from Patch