MySpace Lays Off 30 Percent Amid Flat Membership

Flatline (Compete.com via Wired)

Flatline (Compete.com via Wired)

MySpace.com, snapped up by Rupert Murdoch a couple of years ago for half a billion dollars has seen growth flatten amid Facebook‘s soaring popularity and Twitter‘s recent takeoff. So what to do?

Pare down, get lean and get ready to fight. The ad-heavy site, said to be relatively lucrative while Facebook and Twitter continue to resist aggressive monetization, is laying off 30 percent of its workforce, saying the company grew too bloated.

The move comes after MySpace’s new executive team, including CEO and former Facebook-er Owen Van Natta, took over the former No. 1 social media destination about six weeks ago.

The chart above, from Compete.com, puts things in perspective. MySpace is stagnate. Wired is unsure it can make a comeback.

Meanwhile, Twitter growth shows signs of slowing. But — as Wired also points out — when your service is seen as integral to Middle Eastern affairs, you gotta be doing something right.

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