Myspace Lays Off Half Their Staff

How the mighty have fallen. Myspace which used to be at the top of the social networking universe has hit hard times since being bought by News Corp. Today, it was announced that half of the Myspace staff has been laid off in a desperate attempt to keep themselves alive:

MySpace CEO Mike Jones today announced a “significant organizational restructuring that will result in a 47 percent staff reduction across all divisions globally and impact about 500 employees,” confirming many rumors that the News Corp.-owned social network would be going through heavy layoffs before possibly seeking a new buyer.

Formerly a social-networking sensation, MySpace lost more and more ground to Facebook over the past few years until it finally underwent a massive redesign that focuses on pop culture media-sharing for young users rather than attempting to be a universally appealing social network.

I’m not a fan of social networking sites myself. But I can’t remember the last time I even thought about Myspace. It’s so three years ago. Facebook is the king of social networking. Until something comes along and displaces it. Any bets on what that might be?

 

One Response to “Myspace Lays Off Half Their Staff”

  1. Wait, Myspace is still around?

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