World News | Tim Arango, New York Times | Wednesday January 12, 2011
As Facebook was negotiating a half-billion-dollar investment from Goldman Sachs recently, MySpace, once the dominant Web site for social networking, was preparing to fire nearly half its staff. The layoffs, which cut nearly 500 employees from a payroll of close to 1,100, were announced on Tuesday. The downsizing is the most draconian yet for the be...
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