Myspace Sacks Third of Employees As Facebook Overtakes It In The US

Myspace, the pioneer social networking website owned by News Corporation, has shed 420 employees, bringing its total head count to around 1000 as it emerged that Facebook has overtaken the former poster child of Web 2.0 in the US. 2009 has been a pretty bad year for the web 2.0 company. It lost both Jay Stevens and Chris DeWolfe, its two co-founders, in the last few month and is likely to lose its leadership in the US to Facebook, a huge blow to its attempt to...