Wednesday, January 12, 2011

Myspace: 500 Employees fired

CNN reported about Myspace laying off 47% of its staff

"Today's tough but necessary changes were taken in order to provide the company with a clear path for sustained growth and profitability," CEO Mike Jones said in a written statement. "These changes were purely driven by issues related to our legacy business, and in no way reflect the performance of the new product."

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