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It's Official: MySpace Lays Off 500 Employees

| Filed under: Sad SadBusiness Blitz

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Does this mark the end of MySpace? It doesn't support the contrary.

Execs at MySpace made the official announcement today that they are laying of 47% of their workforce for the social networking site. CEO Mike Jones noted that the percentage would find approximately 500 employees across all of their global divisions out of work. Though this is a massive loss of their workforce, Mike tried to put a positive spin on the change and hinted that the changes to come could save the company. He explained:

“With our recent relaunch as an entertainment destination for Gen Y, we introduced a much tighter focus, a significantly streamlined product and an updated technology platform… Today’s tough but necessary changes were taken in order to provide the company with a clear path for sustained growth and profitability. The new organizational structure will enable us to move more nimbly, develop products more quickly, and attain more flexibility on the financial side.”

Yeah, that all sounds great to you. Bet the 500 people who'll now collect unemployment don't feel as chipper about your new focus.

It's rough out there for everyone, but we'd like to send our best out to all of you MySpace people who no longer have a paycheck to get or a place to go to at the start of each day. Hopefully, you'll all be able to land on your feet soon.

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9 comments to “It's Official: MySpace Lays Off 500 Employees”



  1. 1

    i'm a mighty old dream
    it may be i passed the true hockus pockus
    and i'm mighty morbid
    it's a mighty old army
    oliver please forgive me
    -god



  2. 2

    these are kinderschänder everybody knows it. harvard hates it



  3. 3

    Perez I miss being able to read an entire entry, can you take away the "read the rest of this entry" stuff??? pleaaaaaaase :)



  4. 4

    there was a computer at an apartment i was crashing in the nineties. i wrote a child babysitting fantasy and saved it to disk. the mac was offline and i wanted to write something. later this was reported to the police and i got death row, one million dollar bond no bail. please do not discard this message. people need to save face for posterity, parents and grandparents, dead ancestors like christopher columbus. where's your bible? oh, and embarasingly enough, law was invented after islam, yeah, v for victory



  5. 5

    PLEASE stop with the "read the rest of this entry" stuff!!!! Makes me not want to visit your site.



  6. 6

    Perez, I'm not feeling the having to click on every single story



  7. 7

    I'm lazy, and I don't want to "click for the rest of this entry"….



  8. 8

    stop with the clicking for the rest of the entry. There are other websites that I will visit. I have been a loyal reader for years, several times a day but you are about to lose me due to this clicking nonsense



  9. 9

    Perez!! I hate this "read the rest of the entry" crap!! Why don't you just post the whole article?? This new format of yours sucks!!