According to AP, Patch CEO Steve Kalin and CCO Rachel Feddersen have been removed from their positions. AOL, Patch's parent company, is going to run Patch less as an independent subsidiary (which is what we, who have embraced the Patch, love about it) and run it more like an AOL division.
AOL CEO Tim Armstrong and CFO Karen Dykstra's comments on Patch during AOL's recent earnings call stated that Patch would shrink from 900 sites to 600. That means between 250 and 550 people will be laid off this week, or as he stated they would be 'impacts', the worst euphemism for people losing their jobs I have ever heard.
AOL has been losing millions on Patch since it was acquired two year ago and claims that these moves will make the hyper-local news outlets profitable by Q4.
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Let's hope this ship rights itself. The Patch has allowed those who wish to have a voice in our city (and 899 other communities) to be heard. No other local news organization has given its citizens this kind of platform and the city is a better place for it.
Good luck Patch. Hope to see you on Monday.
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-you can read more ramblings from Erik @ www.yourfamilyshouldhaveashow.com
