Fox Interactive Media laid off 100 people

Media reports, News’s Fox Interactive Media confirmed Monday, the company has announced layoffs of 100 people, accounting for 5% of the total number of staff, layoffs related to its social networking site MySpace and photo-sharing site Photobucket.

The source said that the layoffs began last month. Fox Interactive Media’s social networking site MySpace and photo-sharing site Photobucket are not spared. Photobucket one sector of people being laid off for 22.

Fox Interactive Media spokesman said in a statement, “We are indeed in the company’s reduction of a number of internal posts, which is our future success as part of a plan. More importantly, once the market recovery, we will continue to recruit in all fields . ”

However, MySpace is continuing to recruit some of the core positions, such as music and business development departments. The company’s press spokesman, said Dani Dudeck, “We are constantly adjust their business and resources, so that we can focus on core strategic measures.

News Corporation will be released next week, the second quarter of fiscal 2009 results, the performance of Fox Interactive Media will have its importance. And Fox Interactive Media recently has begun to implement a cut in spending plans.

By the global economic crisis, the advertising industry has started to slow down growth. Fox Interactive Media in the first quarter, total revenue declined by 17 percent year-on-year. In addition, the News Corporation also reported fiscal first quarter that Fox Interactive Media display advertising business has been showing a weak trend.