Fates and Fortunes

MySpace, FIM continue to downsize

6/23/2009 04:43:20 PM

Layoffs continue at News Corp.’s digital division, the Wall Street Journal reported today.

First, MySpace plans to lay off 300 employees in its international division, reducing that group’s size by two-thirds down to 150 workers. That follows last week’s announcement that MySpace would cut 30% of its U.S. workforce, down to 1,000 employees.

Changes are also happening at the top at Fox Interactive Media, the division of News Corp. that houses MySpace. Mike Angus, the division’s EVP and general counsel, will move to another position at News Corp., reported Kara Swisher at AllThingsD’s Boomtown, an online affiliate of the Wall Street Journal.

That follows a report last week from Boomtown that FIM’s CFO Ed McKenna was leaving the company. Swishers goes on to report that FIM will likely change its name and become a much more streamlined organization, mostly providing administrative services such as human resources to individual digital companies that will each exist independently.

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