Reuters:

NEW YORK (Reuters) – News Corp’s MySpace refused to comment on Thursday on a report the previous day that said the online social network will fire a “massive” number of employees.

The online social network is preparing to lay off as many as 500 of its 1,600 workers, the TechCrunch blog reported on Wednesday, as it cuts costs while trying to stay ahead of growing competition from rival Facebook.

Related Posts:

• Wired on Pakistan’s Blocking Binge: First Facebook, Now YouTube
• Facebook CEO: privacy controls “missed the mark”
• Netflix integrating movie ratings with Facebook: Reuters
• Israeli Army nixes raid after Facebook leak?
• AP — Facebook to keep profiles of the dead

Tags: News Corp's

This entry was posted on Sunday, June 14th, 2009 at 9:07 pm and is filed under National. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.