Start Writing

Start Writing
Stop Writer's Block

Wednesday, January 12, 2011

Loss of 500 Jobs At Myspace

Have a question? Agree, disagree,
with me? Leave me your opinion.

Rupert Murdoch, the head of media
giant News Corp., and his firm's
Myspace, a social networking web
site, gave notice of a restructuring
Tuesday that will result in the loss
of 500 jobs world-wide.

Advertising revenue and monthly visitors
to Myspace has been down.

The new organizational structure will
enable us to move more nimbly, develop
products more quickly and attain more
flexibility on the financial side,"
Myspace Chief Executive Mike Jones
explained in a statement.

Myspace never really figured out which
one it wanted to be," Dave McClure,
founding partner of 500 Start-ups.
"For the life of me I don't know why
they weren't able to pull it off."

The social network struggled to innovate.
The first signs of Myspace's troubles
starred in 2008, when News Corp. reported
that it was falling short of its $1-billion
revenue projections for the web site.

People familiar with the situation said News
Corp. is looking-over potential buyers.

Source: http://newsblaze.com/story/20110112070856writ.nb/topstory.html

1 comment:

Critique and Write said...

In your opinion, is Myspace the best social networking web site?

Blog Archive

The Writer

The Writer
Word Master-Pieces

Labels