Los Angeles – News Corp.’s (NYSE: NWS) struggling MySpace unit is
expected to lay off 550 to 600 employees tomorrow, or around half of its total
1,000 staff, All Things D reported, citing sources. The layoffs are expected to
include many staffers at MySpace’s international operations, in addition to those at its
Los Angeles headquarters.
The layoffs are expected to be followed by renewed
efforts by News Corp. to sell the company.
All Things D reports that News Corp.
is primarily looking to private equity buyers, although there is some talk the
company my sell MySpace to Yahoo.
(All Things D)