MySpace, the social network born as a reference point for musicians and aspiring ones, is undergoing a strong restructuring that will impose job cuts with 400 employees laid off.
Coincidence or corporate strategy, the news about the downsizing of human resources comes at a precise moment in the history of MySpace: it is learned that Facebook, in constant growth, in May surpassed its competitor even in the United States, a territory where the music social network has stoically resisted until now.
From the official statement released by the company under the News Corp group, it is understood that the priority now is to streamline the workforce which, at current levels, would be too large, making everything less efficient.
Owen Van Natta, CEO of MySpace, also addressed the issue in another direction: “Our intent is to return to innovative development based on our users and our product“.
As if that weren’t enough, the upcoming expiration of the advertising agreement with Google, which was truly substantial for three years, likely weighed on the layoff decision, as it will not yield the same income in the future since traffic on MySpace has significantly decreased.
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