MySpace is cutting nearly 30 percent of its U.S. workforce, or roughly 420 people, the social networking site said today, bringing its total number of U.S. employees to around 1,000. The announcement comes just two months after MySpace CEO Chris DeWolfe and President Tom Anderson left the struggling social network site, and a day after comScore released data that showed the number of unique U.S. visitors on Facebook eclipsed MySpace for the first time ever in May.
After DeWolfe and Anderson left in April, former Facebook COO Owen Van Natta took the helm at MySpace as the new CEO. In a statement released this morning, Van Natta said:
“Simply put, our staffing levels were bloated and hindered our ability to be an efficient and nimble team-oriented company. I understand that these changes are painful for many. They are also necessary for the long-term health and culture of MySpace. Our intent is to return to an environment of innovation that is centered on our user and our product.”
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http://gigaom.com/2008/10/10/for-news-corp-myspace-offers-hope/
Om Malik | Friday, October 10, 2008 | 9:51 AM PT
“Earlier this morning, Rich Greenfield, the scary smart media analyst at Pali Capital……….”
“MySpace is one of their BEST-performing assets right now…MySpace is doing great.”
Fast Forward to June 16, 2009 – and now – We need another “scary smart” prediction from Richard Greenfield. @ Pali Capital.
OM – please do the honors and get Greenfield on the phone for comment :-)
I don’t understand why MySpace didn’t just adapt – Are there patents involved?
MySpace is so similkar to Friendster, it’ll most probably suffer the same fate.