tgtanman writes: CNN reports that Myspace has announced that they have laid off 500 employees, 47% of their total staff. From the article, "MySpace's management kept most of the site's developers but gutted nearly every other job role, according to a staffer who survived the cuts
... 'Today's tough but necessary changes were taken in order to provide the company with a clear path for sustained growth and profitability,' CEO Mike Jones said in a written statement.'These changes were purely driven by issues related to our legacy business, and in no way reflect the performance of the new product.' "