Thaindian News

By Gina Gomez
Jan 12, (THAINDIAN NEWS) MySpace has announced on Tuesday that it is cutting half of its worldwide staffs, around 500 people! Social networking sites are the perfect medium for the present generation to express their views, ideas and thoughts and it is considered as the best possible mode of communication after telephones. Social networking sites like Facebook, Ibibo, MySpace, Orkut, Twitter has captured the recent market with their attractive ways. However, it seems that with growing popularity of Facebook and Twitter, other social networking sites are receiving major setback these days.

Mike Jones, the CEO of California based MySpace announced on Tuesday that the major change in the organization is tough but it is necessary for the company to ensure its profitability. However, this is not the first time for MySpace to sack their employees, back in in June 2009; the company eliminated about 30 percent of its officials owing to the recession. On Tuesday’s announcement, Mike Jones said that these changes are essential for to secure growth of the company. He also added that the company has taken such a decision to maintain their “legacy business” and it does not reflect any performance of the organization in recent time.

Mike Jones previously promised all the users that the site will be more flexible and also the officials in the company will be able to accelerate the product development and at the same time they can implement their innovative ideas in the business. The major elimination will, reportedly take place in London, Berlin and Sydney and the workers all over the world are shocked to hear such news. A reputed media outlet reported that the CEO of China’s MySpace organization has already resigned from his post.