MySpace to Cut 30 Percent of Staff16 Jun, 2009 By: Isabella Hecht
MySpace.com, the social networking site owned by Rupert Murdoch’s News Corp., will be cutting 30% of its staff, Reuters reported.
The company declined to say how many people work there, but they will be left with about 1,000 employees, and the percentage to be cut suggests that about 400 people will lose their jobs.
The cuts represent the new management’s biggest move so far to lower costs and attempt to return the service to a “start-up culture.” The company is struggling to stay popular in the face of rising competition from other social networking sites, such as Facebook and Twitter. MySpace’s U.S. user numbers have fallen since October 2008, and the job cuts came the same week the number of Facbook users in the United States surpassed MySpace users for the first time.