News Corp. seen cutting jobs - WSJ

News Corp.'s Fox Interactive Media digital division, which includes the popular social networking site MySpace, is laying off about five per cent of its workforce, or about 100 people, to cut costs, the Wall Street Journal reported. The cuts, which...

News Corp.'s Fox Interactive Media digital division, which includes the popular social networking site MySpace, is laying off about five per cent of its workforce, or about 100 people, to cut costs, the Wall Street Journal reported.

The cuts, which began over the last month, include all groups from MySpace to photo-sharing site Photobucket to mobile, the Journal said, citing a person familiar with the situation.

A Fox Interactive Media spokesman confirmed to the Journal that several of the groups within the division were eliminating jobs.

As far as MySpace was concerned, spokesperson Dani Dudeck said the group was still hiring.

"We are constantly aligning our business and resources to focus on the core strategic initiatives of MySpace.

"We currently have open positions and are actively hiring in areas including, but not limited to, MySpace Music, Business Development, and other product initiatives," she said in a statement.

"We expect to have more MySpace employees at the end of this fiscal year than we currently have."

Sign up to our free newsletters

Get the best updates straight to your inbox:

You can unsubscribe at any time by clicking the link in the footer of our emails. We use Mailchimp as our marketing platform. By subscribing, you acknowledge that your information will be transferred to Mailchimp for processing.