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Myspace Looking at Staff Layoffs

According to a report in the Wall Street Journal, Myspace is preparing to unveil a major round of layoffs as soon as this month in its latest restructuring process.

Myspace currently has around 1,100 employees, but the number of layoffs has not been revealed, but according to the report as many as 50% of staff members may be laid off.

Both Myspace and the Wall Street Journal are both owned by Rupert Murdoch’s News Corp.

Myspace recently undergone a website design and also renewed a search deal with Google, at a lower guaranteed price.

Back in November 2010, News Corp’s deputy chairman, Chase Carey, warned that Myspace had quarters, rather than years, to turn around and signaled a possible sale if improvements did not materialize.

Myspace officials have not yet responded to the claim made in the article.

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