MySpace lays off more than half of employees; brings in Justin Timberlake

MySpace lays off more than half of employees; brings in Justin Timberlake

Summary: The MySpace predictions this week were true. Just after MySpace was bought by Specific Media from News Corporation, the once-popular social networking site has commenced another round of layoffs.

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The MySpace predictions this week were true. Just after MySpace was bought by Specific Media from News Corporation, the once-popular social networking site has commenced another round of layoffs.

The Wall Street Journal is reporting that MySpace gave pink slips to more than half of its base of 450 employees on Wednesday. Compare that to when MySpace employed 1,400 people as of two years ago, and its easy to picture just how steeply this company has fallen.

After trimming the workforce down, it appears this social network has brought in singer and actor Justin Timberlake. This time, Timberlake won't be playing a part but rather given a minor stake in the company. He will also be employed to revamp MySpace's direction and brand.

A popular spokesperson is an often-used gimmick, but there are plenty of skeptics who wonder what Timberlake could really do to save MySpace at this point. AllThingsD's Kara Swisher puts it plainly: "Maybe they should focus on making products the star first."

As for what that direction might look like, Specific Media CEO Tim Vanderhook told the WSJ that he wants MySpace to evolve into a "digital media company on par with Yahoo, AOL, Facebook and all the other big names out there."

Facebook? Yes, that would be a good model considering the site reportedly already retains 750 million members and could be valued at $100 billion.

Yahoo? Not quite. Yes, Yahoo is trying to establish itself as a digital media giant rather frame itself around the search engine it became known for, but it hasn't prove itself entirely quite yet.

AOL? No, just no.

[Via The Hollywood Reporter]

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18 comments
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  • RE: MySpace lays off more than half of employees; brings in Justin Timberlake

    Love the title. It suggests that Justin Timberlake is now trying deperately to fill the roles of 450 people all at once. I can imagine him now, running around, sweeping the floor whilst on three or four phone calls and nine or ten computers... ^^
    Imrhien
    • Maybe his role is to serenade the outgoing employees

      @Imrhien
      with "good-bye" songs?

      :|
      Tim Cook
      • RE: MySpace lays off more than half of employees; brings in Justin Timberlake

        @Mister Spock

        "Bye, Bye, Bye..."

        ;)
        The one and only, Cylon Centurion
  • RE: MySpace lays off more than half of employees; brings in Justin Timberlake

    Bring Justin Timberlake is bizarre. What management experience does Justin have....?
    randall.shimizu@...
    • Is not the experience of routinely exposing his naked torse not enought?

      @randall.shimizu@... Maybe now he will advance and offer the bulge for exposure. So we should not write him off yet.
      DDERSSS
      • RE: MySpace lays off more than half of employees; brings in Justin Timberlake

        @DeRSSS
        lol, nice.
        hoaxoner
    • RE: MySpace lays off more than half of employees; brings in Justin Timberlake

      @randall.shimizu@... dont you remember justin was in the movie called the social network? does not that give him experience? LOL... LOL.. LOL... Yes we know this moron justin has NO EXP at all,. Just because he sings before which i think it a total joke listening his music boring like Justin Bieber is to listen too. hahahahahaha
      ipadsucks
      • Dead Wrong

        Justin Timberlake played Sean Parker (aka Napster)... not Mark Zuckerberg (aka Facebook)...<br><br>Although... I think that people remember the movie and I think Specific Media will attempt to shot down Facebook using that movie.<br><br>As always, it's just a PR stunt, just as when they said that Planet Hollywood (headquartered on Orlando, Florida 2,515 mi away) was spearheaded by Sylvester Stallone, Bruce Willis, Demi Moore, and Arnold Schwarzenegger.<br><br><i>"Movie star "owners" received stock options at rock bottom price in exchange for their endorsement, thus they could be billed as legal owners."</i><br><a href="http://en.wikipedia.org/wiki/Planet_Hollywood" target="_blank" rel="nofollow">http://en.wikipedia.org/wiki/Planet_Hollywood</a>
        cosuna
    • They should bring in...

      ...Ashton Krutcher...
      cosuna
    • One Word MORE THAN......

      @randall.shimizu@... .......Mark Zuckerberg ever dreamed of having when he started Facebook!
      KronJohn
  • To the haters

    Oh come on you haters Justin Timberlake is just bringing sexy back... bring it on down to myspaceville! LOL
    athynz
  • Other news today

    Timberlake whaaaaaaat?



    In other news, Tupac's ghost has joined the RIM Board of Directors as chair. When asked what the corporate strategy was, he replied:

    "Can?t nobody touch me right now. Maybe next month all of this will be over. But this month I?m takin? every movin? target out."

    It is believed they are tying to align their model with other US telecom giants like WorldCom and the United Wireless Telegraph Company.
    SlithyTove
  • RE: MySpace lays off more than half of employees; brings in Justin Timberlake

    This is great i love it. I hope they layoff more of those wannabe employees has i remember i applied for a job there 3yrs ago and was turn down due to over qualified hahahahaa yeah right i feel the interviewer the manager was scared of my great skills and might get his job hahhaha i hope he was laid off also. I wish i can see his face now and tell him hi wannabe manager how it feel be no work i hope you loose everything. hahahah for me i been working still for a great company and yes getting paid very good. I win he lost.
    ipadsucks
  • RE: MySpace lays off more than half of employees; brings in Justin Timberlake

    dont you remember justin was in the movie called the social network? does not that give him experience? LOL... LOL.. LOL... Yes we know this moron justin has NO EXP at all,. Just because he sings before which i think it a total joke listening his music boring like Justin Bieber is to listen too. hahahahahaha
    ipadsucks
  • RE: MySpace lays off more than half of employees; brings in Justin Timberlake

    I think we should all give MySpace another look. I'm not crazy about the fact that Obama and Zuckerberg are so tight. I always like MySpace better anyway. I hate all the overhead and clutter and all those stupid games on Facebook! I'll be taking a second look. If it's good enough for JT, it's good enough for me.
    Bob B.
  • RE: MySpace lays off more than half of employees; brings in Justin Timberlake

    Maybe he'll bring in the guys from The Lonely Island as assistants. :P
    Captiosus
  • RE: MySpace lays off more than half of employees; brings in Justin Timberlake

    God himself couldn't save that flaming pile of trash known as NoSpace.
    xSteven777x
  • RE: MySpace lays off more than half of employees; brings in Justin Timberlake

    <a href="http://www.ansonsteels.com/Carbon-Steels.html">Carbon Steels</a>
    Good stuff as per usual, thanks. I do hope this kind of thing gets more exposure.
    mrmilll