Not so good news for Myspace, as 5% of employees are being laid off

Myspace remade themselves over and over throughout the years. The most recent has been with the debut of the “New Myspace” back in June, 2013. Artists were invited to engage in the new “back to basics” community, for musicians and fans to interact with each other.

Everything else was cut and removed, and the core site was to promote music; hence Justin Timberlake being the poster boy for the New(est) Myspace (sorry Tom!). Unfortunately, it doesn’t appear to be working out very well.

I have tried the New Myspace, and have found engagement to be very low, and I have almost 400K followers on the network. I can’t imagine what it’s like for users with a smaller following. Although the design is unorthodox, it’s new and refreshing, and well put together. But the design itself isn’t enough to bring in new users, and also keep their core base of users happy.

And according to Myspace, profits aren’t near where they need to be. And due to this, 5% of Myspace employees will be going through layoffs – sounds familiar right? Chief Operating Officer Chris Vanderhook gave this statement:

We’re implementing changes at Myspace to support continued innovation and growth by streamlining operations to achieve profitability. We appreciate our team’s contributions to Myspace over the years, and are offering outplacement services and severance packages to assist impacted employees.

I hope my friends over at Myspace are doing alright!