MUMBAI: Rupert Murdoch‘s News Corp owned MySpace may lay off about half of its 1,100 employees as early as this month.

The news was first reported by Wall Street Journal technology blog All Things Digital.
 
This reduction is viewed by experts as a prelude to cuts necessary to re-establish the site to profitability and attract potential buyers.

MySpace declined to comment on the report.

In October, Myspace redesigned its site to emphasise its entertainment assets and later entered into a new ad deal with Google.
 
Recently, News Corp. deputy chairman, president and COO Chase Carey was quoted as saying the media conglomerate was weighing its options for the website - raising the possibility of a sale.

MySpace was acquired by News Corp. in 2005 for $580 at a time when online social network was surging in popularity.