No numbers yet, but All Things Digital's Liz Gannes says it could be as much as 50 percent of the company's 1,100 employees. Not a real shocker, considering that nearly the entire staff of the Bev Hills-based social network site was asked to take off the last week of December in order to save money. A sale is the likeliest scenario, says Gannes, probably involving a private equity firm.
According to many inside and outside the company, redesign and strategy moves are not expected to result in a major turnaround of Myspace. Meanwhile, the piles of money the company once got from its Google relationship have also gotten much smaller. It's not much of a surprise that News Corp. is moving to remedy the situation now.