Myspace Lays Off Over Half its StaffCategory: Internet
Posted: July 1, 2011 08:45AM
Just days after being sold to Specific Media for $35 million, Myspace has laid off more than half its workforce. Earlier this week, a TechCrunch report had guessed at the layoffs, but put the number at 150 employees, or 37.5% of the 450 that Myspace had employed. According to the company’s Wikipedia page, that number is correct, but it also notes that another 150 have been put on a transition plan that will let them work and get paid while looking for a new employer. Myspace was the king of social networking sites starting in 2005, with Facebook stealing that title around 2008. The site peak at just over 100 million users in 2008, and is now down to less than 30 million while Facebook currently has an estimated 139 million unique users.