Myspace to axe a third of its workers

[Jilo]

The social networking site MySpace is to cut a third of its workforce as it looks to return to its 'start-up' roots.


The company, which is owned by Rupert Murdoch, said it wanted to return to "an efficient and nimble team-oriented company".


Some 420 jobs will go, cutting the number of people working for the US internet giant to 1,000.


"Simply put, our staffing levels were bloated and hindered our ability to be an efficient and nimble team-oriented company," said Owen Van Natta, MySpace chief executive.


"I understand that these changes are painful for many. They are also necessary for the long-term health and culture of MySpace.

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"Our intent is to return to an environment of innovation that is centred on our user and our product."


MySpace has been hit by the rise of Facebook and Twitter.
Facebook dumped MySpace off the social networking top spot last year, claiming 130 million users compared with Facebook's audience of 200 million.


Yet Facebook employs just 900 staff compared to MySpace's 1,000.
MySpace was launched in 2003 but was bought by News Corp in 2005 for £357m.


It has increasingly moved to establish itself as a host for the music community.

 

[David G]

Way too many employees. IMO there is little room for all 3 of these competing networks and predict MySpace will continue to decline. I don't recall the last time I heard anyone mention MySpace but hear about the other 2 all the time. The only 1 of the 3 that I participate in is FB and even then only occasionally.

 

[draggar]

Communities like this come and go. It won't be long before something new comes out and does the same to Facebook and Twitter.

 

[Gerry]

Way too many employees. IMO there is little room for all 3 of these competing networks and predict MySpace will continue to decline. I don't recall the last time I heard anyone mention MySpace but hear about the other 2 all the time. The only 1 of the 3 that I participate in is FB and even then only occasionally.

I agree with this.

I rarely hear anyone mention MySpace anymore.

 

[jasdon11]

I agree with this.

I rarely hear anyone mention MySpace anymore.

That's what I was thinking....$357m huh...

 

[Donald Aquilano]

Myspace is still a very popular site so there not dead by a long shot.