Global Job Cuts At MySpace?

MySpace is reportedly considering closing some offices around the world in a bid to cut costs.

According to reports in the Guardian, MySpace is considering shutting down its offices in San Francisco, Italy, France and Spain. If this happens, and it could possibly occur as early as this week, hundreds of jobs will be lost.

The office in San Francisco is home to 200 employees and only opened at the end of 2007. It’s believed some workers would be given the chance to relocate to MySpace HQ in Los Angeles.

In terms of Europe, the fate of the Paris, Madrid and Rome offices are in the balance, and it’s believed that some staff were laid off from the UK office earlier this year. The cuts could mean the in Europe, MySpace will only have staff in the UK and Germany.

Last week TechCrunch reported that "massive layoffs" of up to 25% of the company’s workers were possible.

MySpace, once the leader in social networking sites, has been lagging poorly behind Facebook.