Myspace Owner-Specific Media Hit With Layoffs

Myspace owner-Specific Media has laid of a percentage of its staff today, we've confirmed with the company. Specific Media said these layoffs took place in sales and operating areas, and was part of a consolidation effort to eliminate redundancies between the two businesses. As Specific Media says in a statement: The company is consolidating forces to ensure greater alignment between its workforce and the direction in which it?s headed. Specific Media says that "less than 8%" of the company's employees were laid off. Specific Media has about 750 employees, so around 50-60 employees may have been let go. Apart from Myspace, Specific Media is an ad technology company that aims to help drive viewership for content owners, engagement for brands and relevance for consumers. The company allows marketers to buy digital ads across the Web, TV, online video, mobile platforms. Of course, you may know that Specific Media (along with Justin Timberlake) bought Myspace earlier this year from News Corp. for around $35 million.

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