Printed from http://www.electronista.com

MySpace to cut up to 600 staff Tuesday, may sell to Yahoo

updated 09:05 am EST, Mon January 10, 2011

MySpace job cuts due tomorrow amid selloff talk

MySpace's rumored dramatic job cuts should happen tomorrow, tips supported on Monday. Between 550 to 600 of the 1,100 workers at the music and social network site could lose their jobs on Tuesday. January 11 was a hard deadline for determining the cuts, according to AllThingsD contacts.

The reductions have supposedly been planned not only to help turn around the money-losing site but also to pare it down and make it a more viable sell-off target. MySpace's parent company News Corp. has been considering selling the company off to Yahoo, although it's not known how serious the prospects are for such a deal.

MySpace has been suffering for the past few years as Facebook has gradually taken over the social networking space. The factors behind the decline have varied but have usually centered around relatively disorganized user pages and a relative lack of features beyond music. At one point, the tried to compete with iTunes and others by focusing heavily on paid song downloads and ad-supported music streams, but this largely didn't pan out and led to an emphasis on buying through Amazon MP3 and iTunes instead.

MySpace hasn't commented on whether any of the claims are accurate.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

  1. Athens

    Addicted to MacNN

    Joined: Jan 2003

    +1

    ...

    Apple should buy it and rename it iSpace or google should and gall it gSpace.

  1. climacs

    Junior Member

    Joined: Sep 2001

    -1

    myspace

    the favorite social media site for crazed serial shooters

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Samsung Galaxy S 5

The Samsung Galaxy S5 might be the phone that Android users have been craving for some time. Information coming out of Mobile World Co ...

STM Trust technology bag

The search for a good messenger bag that doubles as a laptop bag is something many travelers find themselves facing at least once. Bet ...

PenClic Bluetooth mouse

Windows 8 aside, computer users have been trained that a mouse is the proper way to navigate through the desktop for many years now. T ...

Sponsor

toggle

Most Commented

 
toggle

Popular News