Report: MySpace prepares for Massive Layoffs

Read this from MSNBC. Seems like our biggest social sites are not as financially sound as we think:

News Corp's MySpace refused to comment on Thursday on a report the previous day that said the online social network will fire a "massive" number of employees.

The online social network is preparing to lay off as many as 500 of its 1,600 workers, the TechCrunch blog reported on Wednesday, as it cuts costs while trying to stay ahead of growing competition from rival Facebook.

MySpace is part of Fox Interactive Media, which houses some of News Corp's online properties. News Corp last month ousted co-founder and Chief Executive Chris DeWolfe and has shaken up management elsewhere in its digital operations....

they should do some blackhat stuff to survive.

that probably wouldn't be unusual as they started off pretty much as a blackhat company.

It is hard to do blackhat staff while having a large number of emplyee and running a big business. Any of them they can leak the information and any of the clients also can complain if their interest is affected.

oh noes! they aren't going to fire Tom are they?