It would seem that the offices at social network MySpace are going to be a bit emptier after tomorrow as it has been reported by All Things Digital that the company is going to shed over half of its staff.
Currently MySpace employs over 1,000 people, but tomorrow’s round of layoffs will be somewhere between 550 and 600 of its staff members, primarily in the international offices. Some speculation has run as high as 70 percent of staff, but the real number appears to be more along the 50 to 60 percent lines.
Apparently the company will then move into more serious discussions of selling itself off. Various private equity firms are reportedly already looking at the company, but no names have been mentioned as of yet.
It’s never a good situation when a company has to layoff employees, but there really aren’t many other options for the top social network. Not only has Facebook long ago surpassed the site in traffic, but now even Twitter has left them in the rear view mirror. The company has to do something to keep themselves viable, and considering it is still quite popular with bands and their fans, perhaps it is time for a change in direction to being even more music focused, but that may be something for the whomever the new owners turn out to be.
[via All Things Digital]