Facebook is reportedly planning a major overhaul of its design of user profiles.

Mashable reported, citing anonymous sources, that the social networking company is expected to to reveal a major redesign of user profiles at its f8 developer conference this week, while announcing other features such as a media platform.

The report said that the overhaul is intended to make users spend more time on the network, by allowing friends to see and access that the videos being watched by an user.

It added that the redesigned profiles are part of a larger push into social e-Commerce, which may be related to Project Spartan, an HTML5-based mobile platform expected to be launching soon.

It is believed that Facebook will launch a media platform that will allow people to easily share their favourite music, television shows and movies. The company is expected to announce the service at its F8 developers’ conference in San Francisco on Thursday.

Meanwhile according to a report from The Hill, Facebook application have created 182,000 jobs in the U.S. Economy so far, adding "$12.19 in wages and benefits to the U.S. economy."

Facebook has changed many features in the recent weeks. First, the company tweaked its privacy settings to give users better control. It then added ‘smart lists’ feature which allow users to control who sees their posts. Recently, the company joined hands with microblogging site Twitter to enable linking of user accounts of both the sites.