- 1,000 firefighters called to battle stubborn Big Sur wildfire
- Black Friday brouhaha: Millions of Target shoppers hit by credit card theft
- Britain orders airplane to rescue citizens from violent South Sudan
- Mega Millions winner emerges as Georgia mom, in ‘disbelief’
- ‘Duck Dynasty’ Phil Robertson suspended ‘indefinitely’ for gay comments
- John Podesta eats crow: ‘I apologize to Speaker Boehner’
- U.S., China race to finish line on ‘invisibility cloak’
- Obama ‘cavalier’ in hiding foreign aid order, judge rules
- Prince Charles: Muslims are driving Christians from Mideast through persecution
- Gitmo’s first commander: Close the prison down
MySpace slashes nearly half its global staff
Question of the Day
LOS ANGELES (AP) — Struggling entertainment site MySpace said Tuesday that it is cutting nearly half of its staff worldwide, or about 500 people, after an extensive revamp in October overhauled its look and allowed it to be run with fewer people.
MySpace declined to say how much the cuts would save. A previous round of cuts in June 2009 eliminated 30 percent of its work force, or about 420 jobs.
The relaunch focused MySpace on giving its users, mostly aged 13 to 34, more ways to consume music, videos and celebrity gossip. Before, MySpace tried to be an all-purpose social networking site like Facebook. MySpace recently said it is no longer trying to compete with Facebook.
News Corp. bought the site in 2005 for $580 million, but it has been losing money consistently. In the three months through Sept. 30, the “other” segment housing MySpace lost $156 million, about $30 million more than the previous year, mostly because of lower search and ad revenue at MySpace.
By contrast, juggernaut Facebook is making money. According to documents recently shared with prospective shareholders, Facebook earned $355 million on revenue of $1.2 billion in the first nine months of last year.
News Corp. executives had put MySpace on a short leash to get profitable. News Corp. Chief Operating Officer Chase Carey told investors in November he would judge efforts to reboot the site “in quarters, not in years.”
MySpace said that since its overhaul, it is “trending positively” with an uptick in new and returning users, although it did not immediately clarify how many. Late last year, it had around 120 million global users, compared with more than half a billion for Facebook.
By Andrew P. Napolitano
Fourth Amendment says Obama is not at liberty to collect metadata
- U.S. Army mulls wiping out memory of Robert E. Lee, 'Stonewall' Jackson
- Half of America strips religion from Christmas
- Gov't wasted $30 billion on 'pillownauts,' crystal goblets -- buying human urine!
- BOLTON: Nero in the White House
- Sen. Max Baucus: Obamas choice for China ambassador
- Obama's own panel rips NSA spying on phone calls of Americans
- President gets budget win -- but only by staying out of negotiations
- Armed response, not restrictive gun laws, brought swift end to school shooting
- U.S. pilot scares off Iranians with 'Top Gun'-worthy stunt: 'You really ought to go home'
- NAPOLITANO: NSA spies pick up interference from the Constitution
Independent voices from the The Washington Times Communities
Right-brain investing in a left-brain world. You can do it. I can help.
News and views on the Civil War.
Top 10 handguns in the U.S.
Extraordinary day at Redskins Park
White House pets gone wild!
Let it snow