Employees at MySpace are Getting Ready for Big Layoffs

The once popular MySpace is in troubled waters. The parent company News Corp. is planning to sell the site – which was bought at a whopping price of $580 million in 2005 – at anywhere between $20 million to $30 million and has enough willing buyers queuing up. Half of the employees have bid adieu to the company and the other half are slowly on their way out, with the office wearing a desolate look. News Corp. is stable and going by the norm followed by most companies, the loyal ones who stay back might stand to gain in the end.

Read the original article here:

MySpace Employees Prepared for Massive Layoffs