News Corp. May Lay Off More MySpace Employees
The company has had talks with several potential buyers for the social media website, including Vevo, MySpace founder Chris DeWolfe and private equity firms.
News Corp. may cut more MySpace jobs that may have something to do with a deal to sell the social media website, the Wall Street Journal reports.
News Corp. has had talks with Tencent Holding Ltd., a Chinese Internet company; music video network Vevo; MySpace founder Chris DeWolfe and private equity firms, including Gores Group and Criterion Capital Partners, the latter of which owns Bebo.
The MySpace parent company has sought out venture capital firms.
The potential layoffs would be the second at MySpace so far this year. In January, about 500 jobs were cut and in the past two years, the company has cut 1,200 positions.
Any layoffs would depend on the company who ends up acquiring MySpace, people familiar with the matter told the Journal.