14 DAY TRIAL // The layoffs at Fox Interactive Media, News Corp's digital media arm, continue after the massive demissions at MySpace, owned by News Corp, US and international offices. Photo-sharing and hosting site Photobucket, also part of FIM, is feeling the heat, as one-third of the company's 120 employees have been fired.
“As part of our continuing review of each of the FIM business units, employees were informed of job cuts today at several of our sites. We made these cuts to ensure that our resources are aligned properly with our business goals, and at a scale that will enable us to operate as efficiently as possible,” an FIM spokesperson said on the BoomTown blog.
The photo- and video-sharing site was acquired by News Corp in 2007 for $250 million, and was the hardest hit by the new wave of firings at FIM, losing 35 employees. However, the layoffs affected other FIM properties as well, like IGN, adding up to reportedly 50 to 75 people getting fired. This latest wave is part of a bigger restructuring campaign at FIM, which is now led by Jon Miller.
The most affected of the FIM properties was MySpace, of course, which is also the largest online business, by far, at News Corp. The social network let 30 percent of the US workforce go, adding up to 420 employees. This was followed by an even more drastic move internationally, where 450 of the 600 employees were let go, with many of the 30 offices shutting down altogether.
“Simply put, our staffing levels were bloated and hindered our ability to be an efficient and nimble team-oriented company,” MySpace Chief Executive Officer Owen Van Natta said at the time.