AOL is rumored to be planning to lay off hundreds of its employees next week. According to Pando Daily, their source on the matter is legitimate. Allegedly, AOL might possibly be set to disappoint investors this quarter, and would like to have cost-cutting measures in place, when it comes time to explain themselves.
It has been suggested that AOL will obviously make cuts to its Patch division, and also in other unmentioned areas. Patch is AOL’s “community-specific news and information platform dedicated to providing comprehensive and trusted local coverage for individual towns and communities.” Patch reportedly lost roughly $100 million in 2011.
AOL has been losing a lot of executives within the last while, though it is evident that this didn’t cut enough costs. With the Techcrunch snafu, which prompted the departure of Heather Harde, it has seemingly become a cool thing to quit AOL – The company has also lost Tim Dierks, Alex Gounares, Tim Castelli, Brad Garlinghouse and Kiersten Hollars.