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January 12, 2011

Myspace cuts half its staff for site restructure

by Tom Coyne

Myspace has announced that it means to cut half of its work force due to a massive site restructure.

“These changes were purely driven by issues related to our legacy business, and in no way reflect the performance of our new product” Myspace CEO Mike Jones stated regarding Myspace’s transformation from a social networking site to a hub for entertainment and music.

Also regarding to the staff cuts he went on to say “Today’s tough but necessary changes were taken in order to provide the company with a clear path for sustained growth and profitability”

Acording to Jones, over 3.3 million new profiles have been created worldwide due to the new Myspace site, and between November and December mobile users for the site rose to over 22 million, a 4 per cent increase.

However with partnerships to handle advertising for the UK, Australia, and Germany the UK site will be run on a skeleton staff.

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