MySpace, a division of News Corp. (NWSA), confirmed on Jan. 12 that it will slash 500 positions, or 47% of its workforce.
MySpace CEO Mike Jones said the company will enter strategic local partnerships in the UK, Germany and Australia in order to manage advertising sales and content.
The layoffs, which will occur in two phases, have raised a red flag over the possibility that News Corp. is gearing up MySpace for a possible sale. The company did not reveal how much the cuts would save.
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