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AOL's Patch To Ax 20

Patch.com, the online local-news network whose high costs have made it a lightning rod for criticism of AOL's strategy, is laying off about 20 people as part of a broader restructuring. Patch has nearly 1,000 full-time journalists.

Explaining the Facebook IPO debacle (WSJ), Google lets Cornell move in (FINS), SAP exec arrested for stealing legos (San Jose Mercury News) and more. For all the news you need throughout the day, follow techFINSider on Twitter and Facebook.

Google Gives Cornell $10 Million in Free Office Space

Google announced it will house Cornell University engineering students for up to five-and-a-half years, free-of-charge, at its New York City headquarters. The partnership heralds a new chapter in collaboration between universities and private businesses.

Yahoo makes $4 billion (WSJ), Zuckerberg gets hitched (Associated Press), Foursquare hires Apple executive (Ad Age) and more. For all the news you need throughout the day, follow techFINSider on Twitter and Facebook.

Companies are hiring. Demand is growing. Find out where.

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Facebook Employees Must Spend Wealth Quietly

How Facebook employees plan to spend their riches (NYT), H-P' s "cut and reinvest" strategy (FINS via WSJ), PayPal competitor WePay hiring 40 (FINS) and more. For all the news you need throughout the day, follow techFINSider on Twitter and Facebook.

New Yahoo CEO Ross Levinsohn named an executive team, including Mickie Rosen to lead global media and commerce efforts, to help renew growth at the ailing Internet company.

Sources familiar with the company's plans say CEO Meg Whitman will discuss next Wednesday the opening steps of a company-wide restructuring plan that will include the elimination of about 30,000 jobs.

Online payments start-up WePay plans to hire as many as 40 new employees over the next 18 months after raising $10 million in additional venture-capital financing. WePay is trying to capitalize on what it sees as the vulnerabilities of PayPal, the leader in online payments.

Get your Socrates on (WaPo), Groupon continues raid of Amazon execs (AllThingsD), the smart money flees Facebook (Reuters) and more. For all the news you need throughout the day, follow techFINSider on Twitter and Facebook.