Myspace: Layoffs planned
It looks like Myspace will have to lay off employees again. The once-largest online social network is struggling in vain against the competition and is unable to turn things around.
Around half of the 1,100 employees of the online network Myspace are to be made redundant. The parent company News Corp. wants to drastically streamline the business, the Wall Street Journal reported on Monday, citing informed persons. This is also expected to lead to further job cuts. Myspace itself declined to comment.
This is intended to prepare the sale, which is planned for this year. However, there are no talks yet. In 2005, media mogul Murdoch's News Corporation paid 580 million dollars for Myspace.
