The layoffs keep coming at News Corp interactive devices. Just a week after MySpace announced plans to cut workforce by 30% - or about 425 employees - Fox Interactive Media unit Photobucket have let go a third of its employees - or about 35 employees.
The cuts, first reported by industry blog BoomTown will affect about 75 FIM employees - the rest of whom resided in various other divisions of News Corp. unit, including IGN video game and entertainment division.
"As part of our ongoing review of each of the FIM business units, employees were informed of the job cuts today in several of our sites," according to a FIM spokesperson. "We've made these cuts to ensure that our resources are properly aligned with our business goals, and on a scale that will enable us to function as efficiently as possible."
Last week, the "restructuring" plan on MySpace crossed all U.S. divisions of News Corp.-owned social network. "MySpace grew too large, given the realities of today's market," said Jonathan Miller, News Corp. 's executive director of Digital Media and the first chief digital officer. The move marked MySpace CEO Owen Van Natta's first major move since replacing MySpace founder Chris DeWolfe in April. "In short, our staff numbers were inflated and hampered our ability to be an effective and mobile team-oriented company," said Van Natta.
Largely in an attempt to enhance MySpace and other properties, News Corp. paid $ 250 million Photobucket in May 2007. So, is best known for helping users post images on MySpace member pages, Photobucket rose to prominence as a one-stop shop for uploading digital photos and videos online. But MySpace's star has fallen in recent years, Photobucket's have inevitably followed.
Today, social media king Facebook has over 200 million users compared to MySpace's 130 million, according to comScore.
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