MySpace to lay off staff

By on January 3, 2011
submit to reddit

To cut at least 50% of its 1,100 employees.

According to a report from AllThingD’s NetworkEffect blog, the dwindling social networking website MySpace may soon give the pink slip to as many as 50% of its current staff.

No hard decisions have been made at this point, and the majority of employees have reportedly been given holiday this past week in order to save money, though MySpace later said that the offs were an employee perk and not a cost cutting measure.

MySpace currently empoloyees 1,100 people, most of whom are located in the US. News Corp is said to be planning for “drastic cost-cutting measures” as the site suffers poor traffic and revenue.

Source: AllThingsD.


About

Mufaddal Fakhruddin is the Editor for IGN ME and thinks writing in third person about himself in an about me section is weird.

Comments
Most Read
Most Commented
Competitions
Win two Toshiba AT200 tablets

This festive season Toshiba has 2 tablets to giveaway.

Win an MSI FM2-A85XA-G65 Motherboard

Thanks to MSI we have an great AMD FM2 motherboard to giveaway.

Win a Nokia Asha 311

Thanks to Nokia we have a great entry-level smartphone to giveaway.