The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Information / Communication Computer Programming, Consultancy And Related Activities Computer Programming, Consultancy And Related Activities 62 - Computer programming, consultancy and related activities
300 jobs Number of planned job losses
Announcement Date
24 June 2009
Employment effect (start)
Foreseen end date
Description
My Space, a US-owned company providing online social networking services, has announced plans to cut 300 jobs from its global workforce. The cuts were blamed on falling revenues from advertising that made the workforce 'too big' for the staffing standards of this line of business. The job losses are likely to occur in operations in France, Italy, Canada and Spain. As of 28 June 2009, no date has been given for the implementation of the redundancies.
Sources
24 June 2009: BBC News
Citation
Eurofound (2009), My Space, Internal restructuring in World, factsheet number 69161, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/69161.
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