MySpace Sheds 30% of Workers

Last week, I had lunch with a former student of mine who has worked with a subsidiary of MySpace for a couple of years. She told me that rumors were flying that big cutbacks were on the way.

She was right, the News Corp. owned division will - as Gavin O'Malley of Online Media Daily wrote today - drop the axe on 30% of its workers.

When I know, I'll let you know if my student is one of them.