MySpace Deletes 30% of Workforce
Beverly Hills-based social-networking Web site MySpace is cutting its workforce by 30 percent. According to a CNET report flagged by LAist, the Fox Interactive Media.-owned site has been hit by slow growth, a sluggish economy and tough competition from rival Facebook. CNET says that while some early rumors had put the layoff list at about half of its staff, apparently the actual figure is officially just under 30 percent. The roughly 1,000 employees let go did not include executives.
Facebook only recently caught up with MySpace in terms of unique visits and the latter's downsizing will reportedly put the brakes on the five-and-one-half-year-old company's plans to leave its Beverly Hills offices for a larger L.A. headquarters. Today's MySpace.com home page features a Friday the 13th ad banner -- and a bloody machete.
Get the This Week's Top Stories Newsletter
Every week we collect the latest news, music and arts stories — along with film and food reviews and the best things to do this week — so that you'll never miss LA Weekly's biggest stories.