MySpace will lay off as many as 600 of its approximately 1,000 employees on 11 January, according to a report by All Things Digital.

The layoffs happen concurrently with News Corp. on-again-off-again talks to sell MySpace to potential buyers. Last week, a CNBC report stated that News Corp is on track to unload the social network site by mid-2011.

The social network recently went through a complete overhaul of its site design and company direction, preferring the role as a “social entertainment” hub rather than the broad “social network” tag.

MySpace was still the top social networking site as early as 2008. However in April 2008, the website was overtaken by its younger rival, Facebook.

[via All Things D]


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