Myspace Cut Staff in Half

Tough times for Myspace, as they are cutting half of their staff as they continue trying to stay alive in the post Facebook era.

The website was once the dominant social media destination but has since been eclipsed and practically rendered irrelevant by Facebook. But they have been trying to reinvent themselves as a music and video destination, capitalizing on their continued usage as a home base for musical artists, especially up and coming acts who offer a chance to hear their music on the site.

but since this is a smaller focus it was inevitable that the company would have to make major cuts, and now lots of people will find themselves out on the job market again, looking for employment opportunities in this struggling economy.

Myspace Cut Staff in Half
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MySpace will reportedly lay off more than half of its employees on Tuesday as the website scales back its social networking ambitions. All Things D reports that the layoffs could extend to 600 people (of the site's current staff of 1,000). MySpace will reportedly spin the news as "restructuring" to shed "legacy" products. After that, News Corp. will set to work on selling the site--perhaps even to Yahoo--All Things D reports. (Although I'm not sure Yahoo is in the position to buy, after it abandoned search in December.) The layoffs aren't all that surprising now that MySpace has given up on competing with Facebook. In October the site announced a redesign that nearly abandoned the format of friend pages and wall posts.

Myspace Cut Staff in Half