MySpace owner lays off staff

By | Published on Friday 30 September 2011


MySpace’s new owner Specific Media has laid off just under 8% of its workforce, according to reports. The redundancies are seemingly part of the integration of the digital advertising company with its newish acquisition.

About half of MySpace’s 400 staff were let go when Specific Media took ownership of the flagging digital firm from News Corp, but these new lay offs are in addition to that, and seemingly includes employees in Specific’s existing workforce.

We are still awaiting Specific’s big announcement about the relaunch of MySpace, originally promised for August but now likely to occur at an advertising conference in New York next month. It is thought changes will see MySpace become an entirely music-based platform, possibly dabbling in Bandcamp/Topspin style territory by trying to enable artists to set up subscription-based fan services.