MySpace Confirms Massive Layoffs, Restructures to Become More Innovative
It was widely speculated that MySpace was getting ready to undergo massive layoffs at its company, and the social network has confirmed the rumors today.
Touting the layoffs as a plan for restructuring the company in order to become more “innovative, efficient and entrepreneurial,” MySpace is letting go of 30% of its staff, whittling the company down to 1,000 employees. MySpace CEO Owen Van Natta was quoted as saying that the staff had become bloated, making MySpace hindered in the innovation company.
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in