AOL makes deep job cuts at local news group Patch

By Liana B. Baker (Reuters) - AOL Inc said on Friday that it would cut a substantial number of jobs at its money-losing Patch local news site business, and a source close to the company said about half of the staff of 1,000 was being laid off. Job cuts will reduce 10 percent of AOL's workforce, the company said in a regulatory filing late on Friday. (http://r.reuters.com/bez42v) AOL had 5,600 employees at the end of 2012, according to a February regulatory filing. The company said on Friday that it expects to incur charges of $14 million-$18 million this year related to the job cuts. ...

via Tech News Headlines - Yahoo! News http://news.yahoo.com/aol-cut-jobs-local-news-websites-group-patch-154208311.html