MySpace Slashes 47 Percent Of Staff; Nearly 500 Employees Given Pink Slips
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Apparently, CEO Mike Jones said the cuts were necessary to “provide the company with a clear path for sustained growth and profitability.” On a side note, that could be the most-used sentence in press releases announcing massive layoffs.
MySpace has been on a steady decline in terms of revenues and mindshare and traffic. The social network is even clinging on to rapidly growing rival Facebook in an effort to stay relevant despite a recent, deep redesign and a new mobile site and apps. One a more positive note, MySpace recently renewed its search and advertising relationship with Google.
Also does anyone think it’s odd that layoffs were announced in the midst of Verizon-iPhone hoopla? Yikes.