MySpace is reportedly planning to cut a sizeable portion of its already downsized workforce of 400 employees, by another 150 employees, as NewsCorp prepares to sell the struggling social networking website.

myspace staff cut sale

Tech blog TechCrunch this week reported that MySpace will 150 employees are to be laid off and another 150 will be put on a transition plan that will allow them to look for work and continue to receive pay for a period of time.   TechCrunch said NewsCorp is very close to sealing a deal on a sale of MySpace, with an agreement to be signed yesterday, and a formal announcement to come on Friday.

MySpace started out the New Year by cutting a whopping 47 percent of its staff, and the next round of layoffs is likely aimed at making the company look more attractive for sale.  Many potential buyers for the MySpace website have been named in the media over the past months, but this month Activision CEO Bobby Kotick was named as the only interest party, in an article by All Things D’s Kara Swisher.  Other interested parties included Buzz Media and Living Social.

About David John Walker

Dave has a B.A. in Mathematics, loves writing and reading about the latest developments in technology and social media, and has been working as a freelance writer for five years.