Fox Interactive Media cuts 5% of workforce

Fox Interactive Media (FIM), the digital division of New Corp is laying off about 5% of its work force, or around 100 people.

The cuts, which started in the last month according to the Wall Street Journal, are happening gradually unit by unit in all areas of the business, including MySpace and Photobucket.

A FIM spokesman said in a statement that “this is part of a larger effort we’re making to put FIM in the best possible position to succeed now and, more importantly, to emerge even stronger once the markets recover. It’s important to note that we continue to hire in many areas.”