MC2 Post 900 Myspace facing up to 50% workforce axe tip insiders

From http://www.slashgear.com

Myspace facing up to 50% workforce axe,

tip insiders

Myspace execs are reportedly considering axing up to 50-percent of the struggling social network’s workforce, amid drastic cost-cutting measures intended to counter diminishing revenues and traffic growth. According to NetworkEffect‘s sources, as many as 550 employees could face redundancy should Myspace owner News Corp decide to go ahead with the plan; other strategies include selling on the social network, with both
online game company Zynga and private equity buyers both tipped.

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