SURPRISED? – Ailing social network MySpace said it is laying off 500 staff, or 47 percent of its workforce. It will include cuts to its international operations in the U.K., Germany, and Australia.
The company said it will enter into local partnerships in those markets to handle ad sales and content strategy, overseen by a “core” international team. In the U.K. that partnership will be News. Corp sibling .Fox Networks, while arrangements are being finalized in the other two markets.
The company gave no indication as to what portion of cuts would come from the United States versus international offices. [read]