Tag Archives: myspace redundancy

Myspace Axing 500 Jobs

Despite having major redundancies last year which saw the Social Networking Company’s total employees drop by 700 to just 1,130 Myspace is having further redundancies across its US and International offices again.

There are currently only three offices outside the US in Sydney, Berlin and London which employ about 130 personnel.

While there nothing has been confirmed the UK offices which employs around 50 people, will be largely folded into Fox Networks, also a News Corporation-owned business, in a new partnership deal. The majority of UK employees will be leaving the company, with only a skeleton staff remaining to work with Fox on the commercial side of the site.

MySpace chief executive Mike Jones said: “Details about Australia and Germany are currently being finalized. MySpace will retain a core, dedicated international team to work with partners in order to ensure users, content partners and advertisers continue to be served.”

Employees in the US offices aren’t safe either about 400 jobs will be lost of their 1,000 current staff.

This set of cuts is most likely due to a loss of $US156 million (£99 million) in its most recent quarterly financial statement.