MySpace Lays Off 5% Of Workforce

Struggling

THE LOS ANGELES BUSINESS JOURNAL reports that "less than a year after the official launch of the new MYSPACE -- redesigned to become a hub for music streaming and discovering new artists -- the BEVERLY HILLS social network has conducted a round of layoffs."

The layoffs at MYSPACE, bought by SPECIFIC MEDIA in 2011 for $35 million, accounts for 5% of its staff.

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