Topic: MySpace Lays Off 47% of Employees

[sam]

CNN reports that MySpace has announced that it has laid off 500 employees, 47% of its total staff. From the article: 'MySpace's management kept most of the site's developers but gutted nearly every other job role, according to a staffer who survived the cuts ... "Today's tough but necessary changes were taken in order to provide the company with a clear path for sustained growth and profitability," CEO Mike Jones said in a written statement. "These changes were purely driven by issues related to our legacy business, and in no way reflect the performance of the new product

http://news.slashdot.org/story/11/01/12/0011209/MySpace-Lays-Off-47-of-Employees

[Rik]

Time to sell from the sound of it.

[sam]

they will shut down soon I'd have thought, unless the music industry keeps them up. Facebook destroyed them with their much simpler ideas. And what with music on facebook too its kinda game over.

[Simon]

I'm surprised they had 500 employees in the first place!

[sam]

probably lots of customer service. There was money involved therefore there will be tons of admin folks.

[Simon]

True.  Where there's money, there's Admins.   Oh, wait...   

[Rik]