So maybe the relaunch wasn't all roses: Myspace has confirmed a round of redundancies affecting 5% of its staff - less than a year after its resurrection.

"We're implementing changes at Myspace to support continued innovation and growth by streamlining operations to achieve profitability," explains the site's CEO Chris Vanderhook in an interview with Business Journal. "We appreciate our team's contributions to Myspace over the years, and are offering outplacement services and severance packages to assist impacted employees."

MySpace was bought by Justin Timberlake and Specific Media in June 2011 for 35 million dollars (about £22 million), with rumours suggesting that it would eventually become an online music service similar to Spotify. At that time there were 400 employees related to the company, but that number was expected to be cut in half as part of the deal. [via MusicWeek]

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