Business & Tech
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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