30% Less Space at My Space

[ax]

"Social networking website MySpace said Tuesday it will reduce its staff by nearly 30% as part of its efforts to restructure into a leaner organization. The restructuring plan will affect all U.S. divisions and lower the total number of domestic staff to 1,000 employees, the company said. "Simply put, our staffing levels were bloated and hindered our ability to be an efficient and nimble team-oriented company," Chief Executive Owen Van Natta said. "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."

http://www.marketwatch.com/story/mys...20096161329480