In one fell swoop, Myspace decides to cut 47 percent of its staff to try to save the struggling company.
In one fell swoop, Myspace decides to cut 47 percent of its staff to try to save the struggling company. Five-hundred people are being cut from a workforce of more than 1,000 people. Although the number is definitely huge, I must say that the news isn't shocking as Myspace has been on a gradual decline and unable to keep up with the competitive Facebook. I used to have a Myspace account but kind of forgot about it once Facebook came along. The great thing about Facebook is that everyone is on it, and it continually changes to keep up with the times. Myspace, on the other hand, seems pretty static.
It's not surprising that the recently laid-off employees of Myspace are having a really tough time. TechCrunch has an email from someone claiming to be one of the casualties of the staff cuts. He or she says, "The people who were in charge and responsible for the continued failure will still be in charge, with new titles and raises, clearly intent on taking as much personal value as they can from the company before it dies completely at their hands. And the hard working, loyal employees that worked their butts off, took time away from their families to *actually* try to turn the company around by building and launching the new Myspace, will be looking for jobs."
The writer's bitterness is clearly obvious, but I'm wondering, are you surprised by the news or was it something you expected?