Myspace Layoffs: Half of Staff to Be Fired on Jan 11
Myspace to Lay Off Up to 600 Staff
Myspace will lay off between 550 and 600 staff on January 11. These layoffs will cut Myspace's overall staff count in half.
Myspace, which is trying to rebrand itself as a content site rather than a social-media hub, is gearing itself up for a resale push. Current Myspace staffers have been bracing for layoffs for a while now, and indeed 50% is a smaller number than expected.
After the layoffs, the News Corp.-owned Myspace will turn its sights to sale options, as I also reported.
The company is primarily being shopped to private-equity buyers, although one intriguing possibility currently being raised within News Corp. is to try to sell Myspace to Yahoo.