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

    Forum Regular

    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

Epson PowerLite Home Cinema 2030 projector

With high-definition televisions now the standard, 4K televisions becoming the next big thing, and plasma TVs going the way of the din ...

Life n Soul 8 Driver Bluetooth headphones

When it comes to music on the go, consumers generally have some options to consider when looking for the best experience. While Blueto ...

Tesoro Tizona G2N Elite gaming keyboard

The market for gaming keyboards is getting crowded, starting off with some fairly simple keyboards and diverging into the land of modu ...

Sponsor

toggle

Most Commented

 
toggle

Popular News