Myspace significantly reduces staffs to compete with fast growing Facebook.

Image representing MySpace as depicted in Crun...
Image via CrunchBase

Can you believe that Myspace is letting go 30% of it workers? That is so crazy. I remember, when Myspace first started, all of my friends created an account and could not stop talking about it. Myspace was the premiere social networking site on the internet. But now its growth cycle is on its way down because of the new social networking site such as Facebook and Twitter.

I cannot believe it. What a pity but desperate times call for desperate measures. Can Myspace save itself by cutting down the fact? Should myspace renew it website? What do you think? Is the same going to happen to Facebook and Twitter if a new social networking site is created? I hope not, but the evolution you never know.

Now no one talks about myspace anymore. It is like myspace has never existed despite its popularity. This is the night mare part of business when it comes to evolution. What is lost for such a powerful company. Can Myspace compete against facebook and twitter? I do not know how about you?

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