Jun. 26, 2009
paidContent - More Layoffs At FIM; Includes One-Third Of Photobucket Staff
The slasher film series continues at Fox Interactive Media, which laid off another 50-75 people today at its non-MySpace properties as the News Corp (NYSE: NWS). fiscal year draws to a close. Photobucket, which FIM bought for about $250 million in early 2007, was the hardest hit, losing roughly one-third of its 120-person staff. The rest of the cuts were across the other sites, including IGN. But FIM isn’t freezing hiring—I’m told IGN, for instance, will continue hiring in some areas. The cuts were first reported by AllThingsD. Earlier this month, FIM laid off a number of corporate staffers as it started a restructuring under new head Jon Miller.
This move follows FIM anchor tenant MySpace cuts of more than 700 staffers including 420 U.S. staffers, nearly 30 percent of its domestic staff, and plans announced earlier this week to cut another 300 staffers globally, slicing its international operations by roughly two-thirds.
Are they done for now? No prediction but the likely reason for the haste will pass at the end of the fiscal year, June 30.
—FIM statement: “As part of our continuing review of each of the FIM business units, employees were informed of job cuts today at several of our sites. We made these cuts to ensure that our resources are aligned properly with our business goals, and at a scale that will enable us to operate as efficiently as possible.”
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By Staci D. Kramer
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