AOL Corp. CEO Tim Armstrong has abandoned an unpopular plan to delay company contributions to employee retirement accounts and apologized for citing two high-cost births as part of the impetus for the plan.
Just two weeks after Hale Global took Patch off AOL's hands, at least 80-90 percent of the "hyperlocal" news website's employees were laid off today, according to some sources.
AOL says it has agreed to sell 800 of its patents and their related applications to Microsoft and grant it a license for its remaining patents for a total about $1.06 billion in cash.