MySpace (Flickr)

As part of that fallout, MySpace recently revealed that they will fire about one-third of their employees — or about 420 workers. MySpace says this move will allow the company to become more nimble and more comparable to Facebook. Considering before this move that MySpace had approximately 1,420 employees and Facebook had 850 employees, this move makes a lot of sense on paper.

However, this may be just a band-aid for MySpace. The company has obviously fallen behind in the technological race with other social networking websites and users are jumping ship at an alarming rate. Additionally, Google’s extremely lucrative advertising deal with MySpace will soon expire.

At this rate, MySpace is going to need to figure out how to turn around this negative trend. If not, MySpace could be in the social networking graveyard in a few years.

Post from: EveryJoe

MySpace Losing to Facebook, Fires 420