Harold Mansfield
07-01-2011, 03:43 PM
As part of the deal, Swisher says MySpace's staff of 400 will be cut in half, corroborating murmurs from yesterday that more layoffs were on the way. In a memo sent to employees, MySpace CEO Mike Jones made note of additional "restructuring initiatives" while also announcing that he's departing the company after a two-month transition period.
As part of the deal, Swisher says MySpace's staff of 400 will be cut in half, corroborating murmurs from yesterday that more layoffs were on the way. In a memo sent to employees, MySpace CEO Mike Jones made note of additional "restructuring initiatives" while also announcing that he's departing the company after a two-month transition period.
Read more: http://news.cnet.com/8301-17939_109-20075451-2/myspace-sells-to-specific-media-for-$35-million/
I will say that I have always hated My Space. It is a design and user friendly nightmare. The only thing it had going for it was that it was first, but if it ever had any competition at it's onset, it would ahve never made it out of the gate.
This is a good lesson in knowing when to get out and take the money. When Newscorp purchased My Space for $580 million, I knew that they had no idea what they were doing and could NEVER compete with Facebook or any other social platform because the layout is so horrible.
It must suck to loose $545 million.
As part of the deal, Swisher says MySpace's staff of 400 will be cut in half, corroborating murmurs from yesterday that more layoffs were on the way. In a memo sent to employees, MySpace CEO Mike Jones made note of additional "restructuring initiatives" while also announcing that he's departing the company after a two-month transition period.
Read more: http://news.cnet.com/8301-17939_109-20075451-2/myspace-sells-to-specific-media-for-$35-million/
I will say that I have always hated My Space. It is a design and user friendly nightmare. The only thing it had going for it was that it was first, but if it ever had any competition at it's onset, it would ahve never made it out of the gate.
This is a good lesson in knowing when to get out and take the money. When Newscorp purchased My Space for $580 million, I knew that they had no idea what they were doing and could NEVER compete with Facebook or any other social platform because the layout is so horrible.
It must suck to loose $545 million.