We used to write about Patch from time to time in the past when it looked like there might be something to all of the bluster that AOL’s CEO, Tim Armstrong, would generate around it. It looked like AOL had found the holy grail of the hyper local space (if you believed their hype that is) and the idea of true local reporting being both scalable and profitable was finally within reach.
Fast forward to the end of last week and the news reported by fellow AOL owned entity, TechCrunch, is not so good.
We reported yesterday that AOL’s hyper-local news service would lose hundreds of employees today, and now we have confirmation from a well-placed Patcher privy to the call that AOL CEO Tim Armstrong did indeed confirm to employees that hundreds would be laid off, with notifications of who will be let go coming throughout the coming week. (Disclosure: AOL owns TechCrunch).