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.
MySpace is one of the world’s largest social networks, with about 125 million users. Originally inspired by Friendster, MySpace quickly grew to become the world’s largest social network, before being overtaken by Facebook. User pages are highly customizable and support integration with widgets such as Slide or YouTube. MySpace provides users with a way to connect around content and culture. MySpace was started as a side project of the internet marketing company eUniverse (now called Intermix Media) in August...