Layoffs at MySpace

LOS ANGELES: MySpace has announced a 30-percent staff reduction, lowering its total U.S. workforce to 1,000 employees.

The cuts, to be made across the company, are part of a restructuring effort that the social networking site says will make it a more "innovative, efficient, and entrepreneurial business."

“Simply put, our staffing levels were bloated and hindered our ability to be an efficient and nimble team-oriented company,” said recently installed 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. Our intent is to return to an environment of innovation that is centered on our user and our product.”

“MySpace grew too big considering the realities of today’s marketplace,” said Jonathan Miller, the CEO of digital media and chief digital officer at MySpace’s parent company, News Corporation. "I believe this restructuring will help MySpace operate much more effectively both structurally and financially moving forward. I am confident in MySpace’s next phase under the leadership of Owen and his team.”