MySpace--the long-troubled social-networking site turned social entertainment hub--is in the midst of planning that could soon result in significant layoffs of its staff, according to multiple sources familiar with the situation.
That number could be as much as 50 percent of the 1,100 employees at MySpace, largely based in the U.S., but also in international locations.
While the decision of what cuts to make to its employee base have not been made yet, nearly the entire MySpace staff was given the last week of December off from work to save money.
Sources stressed that management was still working out the details of more drastic cost-cutting measures that owner News Corp. has been wanting from MySpace, as its revenue and traffic have declined.
More: http://news.cnet.com/8301-1023_3-20026886-93.html
That number could be as much as 50 percent of the 1,100 employees at MySpace, largely based in the U.S., but also in international locations.
While the decision of what cuts to make to its employee base have not been made yet, nearly the entire MySpace staff was given the last week of December off from work to save money.
Sources stressed that management was still working out the details of more drastic cost-cutting measures that owner News Corp. has been wanting from MySpace, as its revenue and traffic have declined.
More: http://news.cnet.com/8301-1023_3-20026886-93.html