Myspace Layoffs

(Just a mock image I found online)

Mike Jones Myspace CEO was quoted as saying, "Todays tough but necessary changes were made to provide the company with a clear path for sustained growth and profitability" after Myspace released/laid-off 500 employees from a company of 1100. I guess NewsCorp never saw that coming, seems like thats what happens when a old guy dresses like a teenager to feel young. Rupert Murdoch in Skinny Jeans! WTF!

So I'm watching the news unfortunately and in between the bullshit I hear Myspace has laid-off 47% of its staff worldwide. WHAT! I mean I knew the social network was on the decline after the rise of Facebook, but 47%? So after hearing this I talked about it w/ my Mobile Apps instructor (Who has a Masters in Economics) and he began to explain the expectations of a company. To basically sum up what he said "You can only go so far up, at some point every company falls. But when a company rises very quickly at a high rate, the fall becomes much worse [ex. Housing Crisis]." That can be represented by anything in life in general, but its how you come out after that matters. Lets see what happens... Take them pants off Murdoch! lol

"Myspace to lay off 500, or 47% of workforce"

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