Myspace Expected To Lay Off At Least 150 Employees On Wednesday

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We’ve confirmed the rumors of Myspace layoffs with our own inside source; From what I’m hearing the company expects to lay off at least 150 of its around 400 employees tomorrow (37.5% of its staff). According to the source, another group of around 150 employees will be put on a transition plan, where they will still be laid off but can work with pay for a few weeks while they search for another job.

Myspace cut around 47% of its staff back in January and these new layoffs come as Myspace is preparing itself for a sale, which we’re hearing will be signed tomorrow and announced on Friday.¬†While there are multiple rumors circling regarding who exactly will be buying the beleaguered social network, the names being tossed around include a bidding group fronted by Activision CEO Bobby Kotick, Buzzmedia, and even LivingSocial.

In any case this is turning out to be a banner week for Myspace, which closes its fiscal year on Wednesday. I’ve emailed Myspace PR for comment, and will update this post when they get back to me.