Andre Yoskowitz
28 Jun 2011 13:03
Multiple sources are claiming that MySpace will fire 150 of its remaining 400 employees this week, as part of the deal to sell off the company.
One source even believes a few of the employees are eagerly awaiting their pink slips as "I think the management owes the employees severance because of the terrible management mistakes they presided over."
In January, the company laid off 550 employees in the U.S. and internationally, in an effort to cut costs and look more attractive to a buyer.
Since early 2009, the company has laid off 1500 employees.
The two companies looking to buy MySpace for $20-$30 million are Golden Gate Capital, a private equity firm, and Specific Media, an ad network.
Rupert Murdoch's News Corp. originally purchased the company for $580 million in 2005, back when Facebook was still in its infancy but traffic has begun to crater, with the service seeing a drop in traffic of 14 percent per month in 2011.