Filed under: Internet, Google (GOOG), News Corp’B’ (NWS)

While MySpace still has an enviable user base, the future is looking dicey. Facebook continues to grow at a relentless pace — and appears to be the de facto social network. There is also the sudden emergence of Twitter (which, by the way, is even putting pressure on Facebook).

To deal with this, MySpace’s owner, News Corp (NYSE: NWS), is taking action. Just last week, the company slashed about 30% of the U.S. workforce.

As for this week, about two-thirds of the global work force will be fired, going from 450 to 150 employees.

Continue reading The bloodbath at MySpace continues

The bloodbath at MySpace continues originally appeared on BloggingStocks on Tue, 23 Jun 2009 09:00:00 EST. Please see our terms for use of feeds.

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