MySpace returns to start-up culture; cuts staff by 30%

MUMBAI: As part of a plan to restructure itself into a more innovative, efficient, and entrepreneurial business, MySpace will reduce its staff by nearly 30 per cent.

This restructuring plan crosses all US divisions of the company and lowers the total number of domestic staff at MySpace to 1,000 employees.

"Simply put, our staffing levels were bloated and hindered 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. Our intent is to return to an environment of innovation that is centered on our user and our product," said MySpace CEO Owen Van Natta.

"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. I am confident in MySpace’s next phase under the leadership of Owen and his team," added News Corporation CEO of digital media and chief digital officer Jonathan Miller.