News Corp's Myspace Preps for Huge Layoffs

No matter what Myspace tries it continues to lose a ton of money, and it’s starting to make Rupert Murdoch sweat. In October of last year the site launched a new look which emphasized gaming and music, but nothing seems to be helping. Jessica Vascellaro and Russell Adams of the Wall Street Journal are reporting that Myspace is about to let go of almost half of its staff to help deal with the huge losses.