Limping MySpace to offload half of workforce
500 jobs to go
By Kelly Fiveash
Posted in Music and Media, 11th January 2011 12:42 GMT
MySpace employees are bracing themselves for huge job cuts, which are reportedly expected to be announced at the struggling News Corp-owned website later today.
According to the Financial Times, MySpace has already laid off some of its staff. A cull of around 500 workers, around half of the company's global workforce, is planned by MySpace in a gasping effort to keep the once-popular social networking site ticking over.
In the meantime, as we've previously reported, it's understood that News Corp bosses are mulling a quick sale of MySpace, which in recent months has tried to recast itself as an entertainment portal.