First as tragedy, then as farce: a tipster close to the company tells us the undead social network canned "massive number of people from their LA office today. Entire departments." A "New MySpace" rep hasn't confirmed the number, but the firings are real.

"We're implementing changes at Myspace to support continued innovation and growth by streamlining operations to achieve profitability. We appreciate our team's contributions to Myspace over the years, and are offering outplacement services and severance packages to assist impacted employees."

In other words, yes, they fired people, to save money. This should come as no surprise: despite employing some very talented editorial staffers for tight music coverage and implementing a swanky new design, MySpace can't shake the fact that it's MySpace. It's struggled out of the graveyard gate. Also, the fact that it isn't Facebook or Twitter. This could very well be the beginning of the end. For real, this time.

Were you affected in these recent layoffs? Know someone who was? Let us know—Valleywag offers our condolences and a place to talk anonymously.

To contact the author of this post, write to biddle@gawker.com