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MySpace returning to large layoffs in order to save the company. Social networking sites from California was reduced to 500 employees worldwide, or nearly reached 50 per cent of total employees, after a significant revamp in October.
LOS ANGELES - MySpace re-make massive job cuts to save the company. Social networking sites from California was reduced to 500 employees worldwide, or nearly reached 50 per cent of total employees, after a significant revamp in October.
Chief Executive Mike Jones said the decision was "heavy, but it needs to be done." Cutting the number of employees could push back MySpace reap benefits, as reported by the Straits Times, Wednesday (01/12/2011).
Even so, MySpace refused to disclose how many employees should be reduced to save the company. June 2009, MySpace also do massive layoffs after reducing 30 percent of the workforce, or approximately 420 employees.
The site was launched in 2003 and then recently to revamp the image by providing more access to music, videos and celebrity gossip to their users, who have a range of ages between 13 and 34 years.
News Corporation bought MySpace for USD580 million, 2005. However, the amount of traffic that continues to decline to make News Corp. losers. Since late September, for three months, MySpace had losses up to USD156 million, an increase of $ 30 million the previous year. This is caused by low search and advertising revenue for MySpace.
By sari, okezone.com, Updated: 1/12/2011 9:11 AM
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