AOL Begins Massive Round of Layoffs at Patch,

patch.com, The network of community news sites is set to lay off about 500 staffers, according to a report by AllThingsD. As much as 40% of Patch's 900 sites may be shuttered, with 20% closing immediately. "I take full responsibility," said Mr. Armstrong on a conference call with Patch employees last week, asking them to blame him for Patch's failures and promising he would remain committed to the company's future success.
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