Myspace Is Dying. Can It Be Saved?

After redesigning their profile pages in an attempt to reinvent themselves, Myspace has just announced that they are laying almost half of their workforce.

Today Myspace is implementing a significant organizational restructuring that will result in a 47 percent staff reduction across all divisions globally and impact about 500 employees.  With our recent relaunch as an entertainment destination for Gen Y, we introduced a much tighter focus, a significantly streamlined product and an updated technology platform.

In international, Myspace, Inc. will be entering into strategic local partnerships in the UK, Germany and Australia to manage advertising sales and content. (paidContent)

“Coincidently” Myspace seemed to have timed the layoff announcent during the debut of the Verizon iPhone (which was also noted by other bloggers as well).

While the economy is partially to blame for Myspace’s woes, truth be told Facebook’s surging growth in the US and abroad is the larger culprit.

See Also
Notable Contributors

Despite the declining market share and mind share, Myspace could potentially save themselves from extinction by being acquired by either Microsoft or Google (the latter who is desperately trying to enter the social scene).

Although Myspace is far from irrelevant (after all, it’s listed as the 25th most popular site in the US according to Quantcast), the company needs to quickly find a way to slow the bleeding lest they join Geocities and the dinosaurs on the extinction list.

Feeling stuck in self-doubt?

Stop trying to fix yourself and start embracing who you are. Join the free 7-day self-discovery challenge and learn how to transform negative emotions into personal growth.

Join Free Now

Picture of Darnell Clayton

Darnell Clayton

Darnell Clayton is a geek who discovered blogging long before he heard of the word "blog" (he called them "web journals" then). When he is not tweeting, friendfeeding, or blogging about space, he enjoys running, reading and describing himself in third person.

RECENT ARTICLES

TRENDING AROUND THE WEB

4 zodiac signs who flourish in their retirement years

4 zodiac signs who flourish in their retirement years

Parent From Heart

8 traits of men who refuse to go to the doctor when they feel sick, according to psychology

8 traits of men who refuse to go to the doctor when they feel sick, according to psychology

Global English Editing

5 lessons from “Think And Grow Rich” that have helped me get on track to an early retirement

5 lessons from “Think And Grow Rich” that have helped me get on track to an early retirement

NewsReports

8 signs you secretly want children (even if you won’t admit it yet)

8 signs you secretly want children (even if you won’t admit it yet)

Global English Editing

I was devastated after losing my high-paying job. Here’s how I transformed that panic into a successful side hustle

I was devastated after losing my high-paying job. Here’s how I transformed that panic into a successful side hustle

NewsReports

7 insensitive phrases people lacking in emotional intelligence use without realizing it

7 insensitive phrases people lacking in emotional intelligence use without realizing it

Global English Editing