Monday, June 29, 2009

MySpace announces job cuts in Spain

MySpace to make large numbers of its staff redundant in Spain

The internet social network site ‘MySpace’, which belongs to the media group, NewsCorp, directed by Rupert Murdoch, is about to announce a significant ‘readjustment’ of its workforce in Spain. The company has already served various members of its staff with redundancy notices and the official news of its redundancy plans which will affect most of its 18 staff and collaborators in Spain is expected to be announced today.

Nevertheless, a spokesperson for the company indicated that this was not a closure of the company’s activities in Spain and that MySpace España would continue to operate from its own office. However, the spokesperson avoided answering questions regarding the redundancies and repeated that the official news would be broadcast by NewsCorp today.

The reorganization of the MySpace office in Spain forms part of the process of restructuring announced by the company and it is expected that up to two thirds of its international workforce, around 300 employees, will be affected. It is also expected that in addition to redundancies 4 of its offices outside the US will be closed.

NewsCorp acquired MySpace in 2005 at a cost of 580 million de dollars (432 million euros), at a time when it was considered to be the principal social networking site operating on the internet. However its leadership is now in question given the success of the 2 other major social networking sites - Facebook and Twitter.
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posted by Euroresidentes at 9:22 AM



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