Multiple rounds of layoffs starting just after MySpace acquisition late 2011, several problems arose from pairing with that company including extremely poor management and budgetary control at the most senior levels of management, budget drain, layoffs, talent drain, loss of competitive advantage, weakening sales. Screwed a lot of my ex-colleagues on redundancy in the second round. A real shame it was one of the very best companies around in 2009-2011 when it was booming and building out. Our alumni simply can't believe the decline of such a lush high end high tech environment to what it has become as of 2013. MySpace's huge infrastructure and operating costs bled SM. Sales also had problems since SM used to be ahead of the competition and therefore "selling" was easy since people wanted what we had, but when competition caught up, it turned out sales didn't actually know how to sell in a competitive market, which made sense since it looked like they hired sales people based on their hair dye rather than talent. I couldn't wait to leave but I do miss the on-site gym and penthouse office at Central Saint Giles even though I know they don't have it any more.
