Post-Handoff AOL’s Patch Lays Off “most” of its employees

January 29, 2014

Hale Global, the firm that took Patch off AOL’s hands two weeks ago, describes itself as “an investment holding company…for special situations.” Just what does that mean? Apparently, the same thing as the “transition specialist,” the job title of George Clooney’s character in “Up In The Air.”

Having waited a decent interval, Patch’s new owners acted today, laying off most of the hyperglobal network’s employees, according to reports by Jim Romenesko and Business Insider. The exact body count isn’t known, but it almost certainly exceeds 400. That is, of course, on top of the 300 to 400 people that AOL let go last August, when it was still hoping to downsize Patch into the black by the end of the fourth quarter.

via Post-Handoff Patch Lays Off Hundreds – Forbes.

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