MySpace Circling the Wagons

Smaller MySpace Much Less to Buy for Advertisers

In Wake of 500 Firings, Some Brand Support and a New Shopping Unit on the Way

Today MySpace announced it's laying off nearly half its global work force -- about 500 people -- in an effort to streamline the company and bring it more in-line with dimmer prospects. But as bad as it sounds, advertisers say all is not lost for the once-powerful social network, which still has 110 million users.

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