Blog Post

FIM Update: MySpace Restructuring But Says No Layoffs; FIM Number Reported At 5 Percent

As we reported last week, in addition to shutting Flektor and SpringWidgets, Fox Interactive Media (NYSE: NWS) has been laying off people at Scout Media and other groups. A company spokesman wouldn’t confirm a number at the time — and still won’t — but is reporting that the layoffs amount to 5 percent, or about 100 positions.

We heard after that first post that MySpace was involved but have been told that is not the case, that MySpace is restructuring without layoffs. The statement from the social network is a little less clear but insists the unit will end the year with a larger staff: “We are constantly aligning our business and resources to focus on the core strategic initiatives of MySpace. We currently have open positions, are actively hiring in areas including but not limited to MySpace Music, Business Development, and other product initiatives. We expect to have more MySpace employees at the end of this fiscal year than we currently have.”