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MySpace Lays Off Two-Thirds of Its Staff
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by Jordan Yerman | June 23, 2009 at 09:14 am
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MySpace is laying off two-thirds of its staff, with only 150 employees remaining worldwide. This must surely have some effect on the company's ability to handle development and repair tasks, plus keep an eye on the behavior of the disparate and sometimes unruly community. While other social media sites were just launching, MySpace was facing its jump-the-shark phase, dealing with fake profiles, pedophiles, and account hacking. My main question is, with the rampant abuse of the site as it stands, how will reduced staffing affect MySpace's ability to cope?
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Though Facebook has taken over as the media darling of social networking, and as most popular worldwide, MySpace actually pulls in more monthly visitors in the US: over 76 million per month.
Social-networking Web site MySpace said Tuesday that it intends to slash its international work force by two thirds to about 150 employees as it strives for greater efficiency under new leadership.
The move follows last week's announcement that the company would cut its U.S. work force by nearly 30% to about 1,000.
News Corp. reported an $89 million loss in the division that includes MySpace for the most recent quarter, partially due to higher costs related to a music venture and new features on the site.
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CynicalPatriot
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Most RecentMost Recommended Comments (1)
at 17:13 on June 23rd, 2009
My Space is not the only site to have cut staff drastically since September last.
Many site have done so and it does have an impact in deed, not a positive one, since the staff is needed to manage the day to day troubles.
The more troubles the more members move away. This sort of decision make the share holders feel good for a time, a very short time though.