MySpace to cut staff by 30%
CEO says "bloated" staff "hindered" companyNEW YORK -- News Corp.'s MySpace will reduce its staff by nearly 30% to become more entrepreneurial and nimble again, the social networking site said Tuesday.
The expected streamlining will hit across all U.S. divisions and will lower the total number of U.S. staff to 1,000.
"Simply put, our staffing levels were bloated and hindered our ability to be an efficient and nimble team-oriented company," said MySpace CEO Owen Van Natta. "I understand that these changes are painful for many. They are also necessary for the long-term health and culture of MySpace."
He said the goal is to "return to an environment of innovation that is centered on our user and our product."
Added Jonathan Miller, News Corp.'s CEO of digital media and chief digital officer: "MySpace grew too big considering the realities of today's marketplace. I believe this restructuring will help MySpace operate much more effectively both structurally and financially moving forward."