MySpace Cuts Staff By Third in US Offices

MySpace laid off 420 employees in its US offices yesterday with more cuts in its international divisions and other News Corp Fox Interactive Media (Fim) properties expected to come.

The cuts, making up about a third of its staff, had been rumoured for a number of weeks and affect all divisions of the company.

MySpace CEO Owen Van Natta said the layoffs will help it “operate as a nimble and entrepreneurial company with the adaptive mentality of a start-up”…Read the rest at Brand Republic