MySpace announces a major job cut
Rumours were true. MySpace has announced that they are cutting its staff by 30 percent.
The aim is to cut costs as it struggles to compete with rivals like Facebook and even Twitter.
After this cut, the company would end up with just around 1000 employees. Still a large number considering MySpace is a web based social network.
MySpace said that another aim of this job cut is to return the service to a “start-up culture.”
MySpace CEO Owen Van Natta said: “Simply put, our staffing levels were bloated and hindered by our ability to be an efficient and nimble team-oriented company. I understand that these changes are painful for many. They are also necessary for the long-term health and culture of MySpace.”
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