By Chris Chang, posted Jan 12, 2011 at 3:31 AM, 112 views,

MySpace China Slashes Staff and CEO

Speaking of social networking in China, Sina Weibo is the best Twitter alternative in the country. Facebook and Twitter are banned for access while MySpace has a department in China. It could gain traction without Facebook and Twitter, but industry watchers say MySpace China has generally been unable to compete with Chinese social networking sites and services, and was never able to build up any significant market share. So, the company slashed the majority of its staff and says goodbye to its CEO.

According to an employee at Myspace China, a total of 30 employees were laid off. While he is not disclosing how many employees remain, other reports indicate as few as four people may remain with the operation. The Chinese version of Myspace was launched with a beta version going online in 2007. The site, however, has advertised itself more as a social networking platform for music fans. Sadly, it wasn’t able to meet the demands of many Chinese music users, and it didn’t have the products to attract them. There’s even rumors flying around on the web saying that MySpace China has been looking for a buyer. Well, anyone here still using MySpace?

Source: Yahoo News