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Myspace Lays of 5 Percent of Staff

Recently revamped Beverly Hills social network for music artists conducts a round of layoffs, according to media reports.

Myspace, the redesigned social network hub for music artists and sharing music located in Beverly Hills, laid off 5 percent of its staff, reports the Los Angeles Business Journal.

The company was acquired by Irvine's Specific Media in 2011 for $35 million.

Chief Operating Officer Chris Vanderhook told the Business Journal they are performing changes by streamlining operations to achieve profitability.

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kenneth scalir November 17, 2013 at 05:42 PM
I am a Myspace junkie, I hope it NEVER goes down, it is the funnest website ever!

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