AOL's PATCH gutted, to be reconfigured by Hale Global

AOL's PATCH gutted, to be reconfigured by Hale Global

Hale Global has a LOT of work to do with Patch
AOL sold a majority stake in its 900 PATCH news outlets to Hale Global on January 15, 2014, while retained a minority stake. 

Since the 2009 AOL acquisition of Patch it failed to make money and estimates of AOL costs range between 200 to 300 million.
The terminated employees will get their yearly Aol bonuses, a payout for accrued vacation time and two months’ severance pay.  
 By taking the severance package, they agree not to sue Aol.
Hale Global is an investment holding company with a 13-year track record as a buyer of underperforming divestitures from corporate parents. 

The firm has extensive in-house software and development teams, using turnaround skills predicated upon product innovation.

Information about Hale Global can be found at www.haleglobal.com and information about AOL/Patch is available at:  http://kennesawpatch.proboards.com/index.cgi
Tortoise February 10, 2014 at 04:40 PM
I'm sorry to say this and am sorry for all the folks who were laid off, but AOL is a terrible company with a hateful CEO in the person of Tim Armstrong, who blamed benefits cuts on distressed newborns and fires people in the middle of conference calls. He's the definition of sociopath. http://www.mediaite.com/online/aol-ceo-tim-armstrong-apologizes-for-blaming-benefits-cuts-on-two-specific-babies/


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