Report: News Corp. lays off 5 percent at digital unit
The Wall Street Journal is reporting layoffs at digital unit that oversees MySpace and Photobucket has cut staffing.
The digital unit that oversees MySpace and Photobucket for News Corp. has laid off about 100 people, or 5 percent of its workforce, according to The Wall Street Journal.
Fox Interactive Media was formed in 2005 to oversee News Corp.'s digital holdings.
MySpace CEO Chris DeWolfe said last year that the social-network site has seen big gains in ad growth. But some of News Corp.'s other digital holdings don't appear to be faring as well. Staci Kramer at the blog PaidContent.org reported last week that FIM had plans to shut down its storage site, Flektor and that there were layoffs at sports site Scout Media--another FIM property.
A FIM representative declined to comment on the Journal's numbers but did not deny layoffs. A MySpace spokeswoman said there were no layoffs at MySpace.