All Things Digital are reporting that MySpace plans to lay off up to 600 members of staff tomorrow.
December saw speculation surface about layoffs, but now, the number will represent almost half the website’s staff.
All Things Digital also suggest the site will be sold off to private equity buyers.
With the increase of popularity of websites like SoundCloud, BandCamp et al, MySpace has lost much ground with unpopular redesigns, logo changes, borderline unusable menus, and reluctance to do anything but ape features introduced by rivals at a lower quality. Whether MySpace has a second wind left remains to be seen, but it’s certainly sad to see what was once a dominant force in media shuffle uneasily into the future.