As AOL Prepares To Downsize Patch, CEO Fires Employee During Meeting

An anonymous reader writes "AOL is closing or plans to sell nearly half of the 900 'hyperlocal' news websites operated by its money-losing Patch Media subsidiary (TechCrunch is also owned by AOL). Hundreds of staff layoffs are believed to be imminent. AOL acquired Patch in 2009, soon after ex-Googler Tim Armstrong took over as CEO; Armstrong was also a co-founder of Patch. During a tough conference call last Thursday Armstrong told Patch editors: 'Something at Patch has been missing for some tim...