MySpace Exec Gets $500K to Sit at Home While 300 Laid Off

MySpace today confirmed the rumors it will lay off 300 international staff, on top of 400 U.S. layoffs last week. The social network also shoved aside purported co-founder Tom Anderson, who has a new gig: NOT going to the office.

For this, Anderson will earn $500,000 a year for two years, Business Insider hears. He also needs to be an "ambassador," for MySpace, which sounds very much like a non-job:

As a part of the deal, [MySpace CEO] Owen [Van Natta] and new News Corp digital media boss Jon Miller asked Tom to stop coming to the office..."He'll have little decision or involvement with the product," says a source.

Of course, Anderson will continue to be everyone's default MySpace friend and will presumably continue to show up for all kinds of exciting parties. He's just not getting tens of millions of dollars for it anymore, having been demoted to six figures, and won't be mucking with MySpace's "strategy" of being a zombie social network. An economy like this requires certain sacrifices.