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Patch Reported to Layoff 75% of Editors…Which Explains Why I’m Reporting

In Economics,Elections on January 30, 2014 by Robert Burke

Having been laid off in 2012 I understand deeply the pain it can cause.  Hope you are doing ok Chris.  Let me know if you want to do something about this…I need candidates.  For the record, PATCH is a quality platform in search of a vision.

From Businessinsider.com:

Media reporter Jim Romenesko hears that local news network Patch’s new owners, Hale Global, fired as much as two-thirds of the company’s editorial staff today.

 

We are hearing the same thing.

Patch used to be owned by AOL. It was actually cofounded by AOL CEO Tim Armstrong. He invested hundreds of millions of dollars into the company over several years. Patch never proved to a viable business. It got to the point where Armstrong almost lost his job over it. This month, AOL reduced its stake in Patch to a minority holding.

A source familiar with Hale’s plans for Patch says the network will shrink to 250 sites from nearly 1,000. In Connecticut, for example, Patch’s staff has been reduced from ~100 to ~5. This source says the 750 or so zombie sites will aggregate regional news and try to partner with local bloggers.

This source says “Patch as a local news reporting entity? They put a bullet in its head today.”

Read more: http://www.businessinsider.com/massive-layoffs-at-patch-they-put-a-bullet-in-its-head-today-2014-1#ixzz2rq4dDjL7

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