Original URL: http://www.theregister.co.uk/2011/06/28/myspace_jobs_going/

MySpace sacks more

More bad news for Murdoch's web grab

By John Oates

Posted in Financial News, 28th June 2011 12:19 GMT

The social network everyone used before they found Facebook is expected to sack another 150 staff tomorrow.

MySpace still employs 400 people in southern California, but it seems the rumours of slashing jobs has restarted rumours of an imminent buyout for the struggling site.

The cuts, confirmed by the Washington Post, acting on Gawker's original piece, will be announced tomorrow.

The Post reckons another 150 people will be put on notice. This group will keep working, and getting paid, but will be told to start looking for new jobs.

The rumours, along with imminent financial results, are fuelling talk that a takeover is waiting to be signed.

The most likely buyer, says AllThingsDigital, is a group of private equity investors including Activision chief executive Bobby Kotick - who would be betting his personal account, not company money, on the deal.

MySpace sacked 500 people in January - around half its headcount at that time.

Murdoch paid $580m for MySpace back in 2005. ®