by Burke Speaker | November 11, 2013 9:09 am
It seems even being backed by Justin Timberlake can’t help the oft-struggling MySpace, which reportedly is being hit with layoffs again.
ValleyWag reports that MySpace laid off a ”massive number of people from their LA office today. Entire departments,” according to a company employee who wanted to remain anonymous.
The company released a statement that would not confirm the number of people let go.
“We’re implementing changes at Myspace to support continued innovation and growth by streamlining operations to achieve profitability. We appreciate our team’s contributions to Myspace over the years, and are offering outplacement services and severance packages to assist impacted employees.”
MySpace reinvented itself as a sort of social media business for music fans, but quickly landed in hot water for music usage rights.
Source URL: http://investorplace.com/2013/11/myspace-hit-layoff/
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