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Myspace to Let Go of About 150 Employees Wednesday

Techcrunch is reporting that Myspace is going to lay off about 150 employees tomorrow; almost 40 percent of its workforce. And that’s not all. An additional 150 staffers will be placed in transitional status, where they’ll still be able to work for a few weeks with pay before eventually getting fired as well.

That same day, according to Techcrunch’s inside sources, the company is going to sign a deal to sell the website. As we reported earlier this month, the leading candidates to acquire Myspace appear to be an investor group lead by an executive from Activision, the video game company.

With the site up for sale, we’ve been waiting for the ax to start dropping. Sadly, it sounds like it’s going to drop about 300 times.

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