MySpace to Ax Up to Half Its Workers
Downsizing could be announced this month, sources say
By Evann Gastaldo, Newser Staff
Posted Jan 4, 2011 7:31 AM CST
Demo of a MySpace webpage using OpenSocial, a programming model developed by Google   (Graphic: Business Wire)

(Newser) – Another blow for struggling MySpace: The social networking site is planning massive layoffs, and could ax between a third and a half of its employees, sources tell the Wall Street Journal. The News Corp-owned company, which employs about 1,100, is expected to announce the reductions this month. Its staff was already downsized by almost 30% over the summer, but more layoffs are needed to control costs, says an insider.

The dramatic restructuring is the latest move as MySpace attempts a makeover, positioning itself as more of a music, games, and entertainment hub. The site was recently redesigned, and a new ad deal was struck with Google—though that deal is said to be less profitable than an earlier one. Meanwhile, visitors continue to decline, down 15% in November from the prior year. Facebook, on the other hand, just snagged a $500 million investment

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Showing 3 of 3 comments
LK789
Jan 4, 2011 6:52 PM CST
Here's an idea, how about we axe Myspace! :D
Williemojorisin
Jan 4, 2011 9:32 AM CST
I don't for a minute believe that Ashton lives in neighborhood where looting happens
Fascist_Jack
Jan 4, 2011 7:41 AM CST
This is indirectly related, but..... It's a sad day in human evolution to hear that Facebook has become more popular than Google. Basically, the majority of humans are more interested in petty gossip and empty narcissism (elitism that can't be backed up with any talent) than they are interested in searching out information. I can't say that I am surprised though.