MySpace laid off 400 employees today, shrinking from about 1400 employees to about 1000. New CEO Owen Van Natta might not have cut deep enough.
How do we know?
Because we just finished talking to an exec from third-place social network Hi5, who reminded us that while his company sees about half as much traffic as MySpace — 60 million uniques per month — its headcount is 94% smaller, with 60 employees versus MySpace’s (now) 1,000.
It’s not a scientific benchmark — we know — but we think the disparity gets at something.
To put this in perspective, here’s what ~1,000 people looks like: