Myspace cutting 500 jobs, nearly half of staff

Myspace slashing 500 jobs, nearly half its staff
Stumble This! WASHINGTON — MySpace announced on Tuesday it was cutting some 500 jobs, nearly half its staff, in a move seen as potentially setting the stage for a sale of the social network owned by Rupert Murdoch's News Corp. "Today's tough but necessary changes were taken in order to provide the company with a clear path for sustained growth and profitability," MySpace chief executive Mike Jones said in a statement. "The new organizational structure will enable us to move more nimbly, d...

MySpace, focusing on music, slashes nearly half its staff
MySpace Inc. said Tuesday that the company has fired 47 percent of its Workforce - about 500 employees - as the deposed social-networking king continues trying to mount a comeback as an online entertainment hub. "Today's tough but necessary changes were taken in order to provide the company with a clear path for sustained growth and profitability," Chief Executive Officer Mike Jones said in a statement that followed weeks of rumors that the Beverly Hills firm was planning its second major work...

MySpace slashes nearly half its global staff
(01-11) 10:06 PST Los Angeles, (AP) -- Struggling entertainment site MySpace said Tuesday that it is cutting nearly half of its staff worldwide, or about 500 people, after an extensive revamp in October overhauled its look and allowed it to be run with fewer people. Mike Jones, the chief executive of MySpace, said cuts are "tough but necessary" and would put the site on a path to profitability while making it more nimble and entrepreneurial. MySpace declined to say how much the cuts would save...

MySpace Slashes Nearly Half Its Global Staff
Struggling entertainment site MySpace said Tuesday that it is cutting nearly half of its staff worldwide, or about 500 people, after an extensive revamp in October overhauled its look and allowed it to be run with fewer people. Mike Jones, the chief executive of MySpace, said cuts are "tough but necessary" and would put the site on a path to profitability while making it more nimble and entrepreneurial. MySpace declined to say how much the cuts would save. A previous round of cuts in June 2009 e...

MySpace lays off 500 employees
News Corp.'s struggling social network, MySpace, on Tuesday formalized an anticipated restructuring that will result in the loss of 500 jobs worldwide, or about 47% of the Workforce. MySpace Chief Executive Mike Jones said the Job Cuts were necessary to streamline operations and put the site on a path toward profitability, following its relaunch last fall as an entertainment destination for Gen Y. "These changes were purely driven by issues related to our legacy business, and in no wa...

MySpace slashes its staff in half
NEW YORK (CNNMoney.com) -- MySpace said Tuesday that it is laying off 500 employees, cutting its staff by 47%. "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." Email Print Comment The company announced the lon...

MySpace slashes nearly half its global staff
MySpace declined to say how much the cuts would save. A previous round of cuts in June 2009 eliminated 30 percent of its work force, or about 420 jobs. The relaunch focused MySpace on giving its users, mostly aged 13 to 34, more ways to consume music, videos and celebrity gossip. Before, MySpace tried to be an all-purpose Social Networking site like Facebook. MySpace recently said it is no longer trying to compete with Facebook. News Corp. bought the site in 2005 for $580 million, but it has bee...

MySpace cutting workforce by half
Struggling MySpace is cutting almost half of its global Workforce. The Social Networking website is getting rid of 500 positions, or 47% of its employees. The announcement comes as MySpace continues to be eclipsed by Facebook, and as it tries to reinvent itself as an entertainment website. MySpace was bought by Rupert Murdoch's News Corporation for $580m (£372m) in 2005, but it has struggled to make money for its parent company. Mike Jones, MySpace's chief executive, said the job ...

Myspace Layoffs: 47 Percent Of Staff Fired
CNET News: MySpace CEO Mike Jones announced Tuesday a "significant organizational restructuring that will result in a 47 percent staff reduction across all divisions globally and impact about 500 employees, confirming many rumors that the News Corp.-owned social network would be going through heavy Layoffs before possibly seeking a new buyer. Read the whole story: CNET News Get HuffPost Technology On Twitter and Facebook! Know something we don't? E-mail us at technology@huffing...

MySpace slashes nearly 50 percent of staff
The restructuring will affect about 500 employees, or 47 percent of the company, across all divisions and regions, Chief Executive Mike Jones said in a statement on Tuesday. "These changes were purely driven by issues related to our legacy business, and in no way reflect the performance of the new product," Jones said. Once the top Internet Social Networking site, MySpace has been eclipsed in recent years by Facebook. In October, MySpace launched a new version of the website centered around mus...

Myspace to lay off 500, or 47%, of workforce
Beleaguered MySpace slashed nearly half its Workforce Tuesday as it scrambles to reinvent itself amid slumping membership and the Facebook juggernaut. The social-networking company lopped 500 jobs, 47% of its 1,100 employees. "Today's tough but necessary changes were taken in order to provide the company with a clear path for sustained growth and profitability," MySpace CEO Mike Jones said in a statement. "These changes were purely driven by issues related to our legacy business, and in no way r...

MySpace slashes nearly half its global staff
LOS ANGELES (AP) — Struggling entertainment site MySpace says it is cutting 47 percent of its staff worldwide, or about 500 people. Mike Jones, the chief executive of MySpace, said in a statement Tuesday that the cuts are “tough but necessary” and have been taken to put the site on a path to growth and profitability. The move follows an extensive revamp in October that focused MySpace on giving its users more ways to consume music, videos and celebrity gossip and away from bein...

MySpace to cut workforce in half
BEVERLY HILLS, Calif., Jan. 11 (UPI) -- Social Web site MySpace said Tuesday it will lay off about half of its workers, cutting 500 jobs in the United States and elsewhere to streamline operations. Chief Executive Officer Mike Jones said, "The new organizational structure will enable us to move more nimbly, develop products more quickly and attain more flexibility on the financial side," The Los Angeles Times reported. With recent changes, the company purchased by News Corp. in 2005 for $580 mil...

Tomorrow, MySpace Will Lay Off 550 to 600 Employees
MySpace will announce massive Layoffs from its staff of just over 1,000 tomorrow. The number is expected to be between 550 and 600 as News Corp. tries to sell off its flagging property to Private Equity investors (or possibly Yahoo). If you're keeping track, that's a little over five years from Rupert Murdoch's initial "visionary" investment. Daily Staffers, that means you've probably got until about 2016 to convince the world it needs an iPad-only newspaper! [Network Effect/AllThingsD] ...

Verizon iPhone Makes Perfect Distraction While MySpace Fires Everyone
While every was liveblogging about the Verizon iPhone that won't be on sale for weeks, MySpace decided to lay off 47 percent of its Workforce. Myspace still has 130 million users but no idea what to do with them. Myspace, the social network never made into a movie, was bought by News Corp.for $580 million in 2005, when the site was at its peak and media companies were fighting over it. CEO Mike Jones and other execs continue to blame earlier management for Myspace's problems. "Today's tough bu...

Media Matters For America Calls Out Rupert Murdoch, Fox News, Glenn Beck and Sarah Palin
David Brock (r) and friends. (Hey, is that Bawney Fwank I see?) Oh please. Now David Brock has his panties in a bunch because Beck used vampire imagery and compared him to a “smelly kid in third grade.” (Media Matters) — Today, in response to the tragic shooting in Arizona and the increasing focus on the tone of political discourse, Media Matters for America founder and CEO David Brock issued an Open Letter to News Corp. CEO Rupert Murdoch asking him to rein in Fox News persona...

Today in Tech: MySpace layoffs today, Verizon iPhone launch
A curated selection of the day's most newsworthy tech stories from all over the Web. As reported a week ago, MySpace intends to lay off 50%, or between 550 and 600, of its staff today under the guise of restructuring and shedding legacy business divisions. Afterwards, it's expected the struggling social network-turned-entertainment hub will look at sale options. Some possibilities: being picked up by a Private Equity buyer or even being sold to Yahoo. (AllThingsD) Would-be Verizon iPhone owners ...

MySpace Layoffs Slated for Tuesday
(Wall Street Journal) - MySpace, the social-networking site owned by News Corp., will lay off more than 500 employees Tuesday, according to a person familiar with the situation, as the business continues a major strategic overhaul aimed at buoying its dismal financial performance. The Layoffs will represent nearly half the website's staff. Reports of Workforce cuts have been around for weeks, including one earlier Monday by All Things Digital, a site owned by News Corp., which also owns Dow Jone...

MySpace Likely To Shutter
News Corp.is reportedly putting MySpace up for sale after cutting staff by 50% this week. If there are no immediately takers, the site is expected to shut down by June. This will come as a shock to millions who thought MySpace was already gone. The site lost $100M in the Fiscal Year that ended last June. Labels: Internet, MySpace, News Corp, Social Media New! Share this on Facebook: Share ...

News Corp. to Launch Digital Newspaper on Jan. 19
News Corp. (NWS) will launch its much-anticipated digital newspaper for Tablet Computers on January 19. Rupert Murdoch, chairman of News Corp., and Apple (AAPL) CEO Steve Jobs will both attend the launch, Reuters reported without naming its sources. News Corp. is betting that Tablet Computers such as the Apple iPad will help boost the news business, which has struggled with falling advertising revenues. The digital paper will be called the Daily and will continue original coverage of news, th...

WikiLeaks has insurance files on News Corp. chief Rupert Murdoch, Assange claims
Stumble This! Wikileaks founder Julian Assange said in a recent interview that he is holding back "Insurance files" which could embarrass Rupert Murdoch and News Corporation and his international media empire at News Corporation. The secrets website was also holding of over 500 US State Department cables about one broadcasting organization in particular, he added. Assange made the disclosure while speaking to New Statesman, saying the files "will be released" if something happens to him or his...

News Corp to hold 'confidential talks' with government on BSkyB bid
Source: The Guardian Critics of £8bn deal complain that Rupert Murdoch empire is being given unfair inside access to the DCMS News Corporation is gearing up for "confidential discussions" with Jeremy Hunt's government department this week about its bid to take full control of BSkyB. Executives from Rupert Murdoch's company were due to meet MPs from the House of Commons culture, media and sport select committee behind closed doors on Wednesday. But that meeting is now off, triggering speculation ...

MySpace lays off 500 employees. Is the race against Facebook lost forever?
MySpace CEO Mike Jones says the cuts were "tough but necessary." MySpace has in recent years consistently lost ground to Facebook and Twitter....

MySpace sacks 500 employees globally and slashes international operation
MySpace’s chief executive, Mike Jones, has confirmed that the company is letting go 500 employees around the world and stripping back its international operation, as revealed by The Telegraph last week....

Kanye West's H.A.M. Spells Doom For Myspace
You can smell the schadenfraude in the blogosphere today as MySpace announces heavy Layoffs. For a while the social network was flying high, even as traditional media was coming undone. Now it seems that the "network effect" will lead to a world of almost complete Facebook domination. But MySpace recently unveiled a major redesign, and in that effort there was a glimmer of hope. The site might not be the best social network for its 130 million users, but it could be the best destination fo...