RIP MySpace?

(Rock AAA) Once the focus of online activity for bands of all shapes and sizes, MySpace took another step closer to oblivion after owners NewsCorp slashed the staff down to a skeleton crew.

Out of 1100 employees worldwide 500 will lose their jobs in the coming weeks as Rupert Murdoch's media empire seeks to sell the service off as a slimmed-down going concern.

The move follows MySpace China laying off two thirds of its staff last month, although the news only broke yesterday.

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