Social web site Facebook Inc. is looking for hundreds of people to hire, according to a report by Bloomberg.
The report, based on an Aug. 20 interview with Facebook’s CEO, Mark Zuckerberg, said the Palo Alto, Calif. company plans to increase its work force by 50 percent this year. The business has about 900 workers right now.
Source: San Francisco Business Times
MySpace said Tuesday that it will cut 300 international positions and close at least four offices outside the U.S. as it looks to cut costs and narrow its territory coverage.
Source: AP
Social networking site MySpace said Tuesday that it plans to slash nearly 30% of its workforce (roughly 430 jobs), leaving it with 1,000 employees.
Source: CNNMoney
MySpace has let go of as many as 45 employees in the last week, we’ve confirmed. Sources close to the company say that the exact figure may be smaller, but that MySpace has definitely laid off a significant number of people.
Source: TechCrunch
News Corp. said Wednesday that MySpace co-founders Chris DeWolfe and Tom Anderson are stepping aside, as the online social networking service they helped build into a phenomenon has begun to suffer in comparison to rival Facebook Inc.
DeWolfe is resigning his role as chief executive, while Anderson is shifting from president to an unspecified “new role,” according to a company statement.
Source: News Corp, MarketWatch
Update 4-24-2009: “The News Corporation, the media conglomerate controlled by Rupert Murdoch, has named Owen Van Natta, a former Facebook executive, to become chief executive of MySpace.”
Source: NYTimes
Facebook Inc., the closely held Internet company that’s reportedly been seeking a fresh round of financing, is parting ways with Chief Financial Officer Gideon Yu.
Facebook spokesman Larry Yu said Gideon Yu’s departure is unrelated to any effort by the company to raise further funds.
Source: MarketWatch
Update (April 1, 2009): Industry Shocked And Angered By Facebook CFO’s Firing. Gideon didn’t get along with Facebook’s top management. Gideon also had an “increasingly strained relationship” with CEO Mark Zuckerberg “over a series of strategic disagreements over a wide range of issues from increasing ad revenue to fundraising discussions with investors.” Facebook CEO Mark Zuckerberg is quick to push those he disagrees with out of the company. One shared sentiment though is that Mark is a very demanding person to work for, if you screw up, one day you are in, the next day out, persona non grata. Source: CNNMoney
Technologizer.com reports: “Reportedly, Yu left the company immediately after a meeting, symbolistic of Zuckerberg’s apparent “you’re with me or against me” mentality. But the way Facebook framed the departure is troubling”.. “Zuckerberg needs to learn if he wants to take his company public that investors do not like turmoil. The revolving door of executives at Facebook will make investors uneasy, and reluctant to invest in the company.”
The popular social news site, Digg announced on Thursday that it will cut off 10 percent of its 75 person workforce. The San Francisco Company stated that it aims to focus on developing an advertising infrastructure that will help it to get to profitability in 2009.
On the company blog on Thursday, Digg’s Chief executive, Jay Adelson confirmed a “headcount reduction in certain areas”. Jay Adelson wrote that the overall job cuts at the 75-person company will be “microscopic in size”.
Source: TopNews
According to Techcrunch: “Gaia Online, a social network/virtual world hybrid that includes one of the web’s most popular forums, has laid off 36 employees, or around 13% of its staff. Of those laid off, 16 were full time and 20 were contractors.“
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