MySpace Announces Layoffs

With Facebook and Twitter on the rise, MySpace has struggled to keep pace. Now, the company announces it will lay off 30 percent of its staff (estimated to be about 400 people) in order to cut costs.

Statements from the company cite a “bloated staffing level” for hindering the company’s ability to be versatile and adapt quickly to the fast-paced social networking scene and its fickle users.

Source:

YahooNews: MySpace To Lay Off 30 Percent Of Staff

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