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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.
Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.