MySpace To Layoff 150 More On Wednesday

Observers had expected News Corp to complete the sale of MySpace before the June end of its quarter. It looks like the media giant will miss that target, but that's not stopping their struggling social network from continuing to downsize. At least 150 more staffers will get lay off notices on Wednesday, according to several sources. MySpace eliminated almost 500 or 50% of its staff in January, and at least some workers are lobbying to be included in this round of pink slips.

"Apparently everyone is expecting it and actually hoping for it," said a MySpace veteran with friends at the company told Gawker. "I think the management owes the employees severance because of the terrible management mistakes they presided over."

More likely, MySpace is trimming another 1/3 of staff to be more attractive to buyers. It's still pretty well overweight from the fat days," the MySpace veteran said.