Social networking website MySpace on Tuesday announced that it will reduce its staff by nearly 30 percent as part of a plan to restructure itself into a more innovative, efficient and entrepreneurial business.
The restructuring plan crosses all U.S. divisions of the company and will lower the total number of its domestic staff to 1,000 employees, MySpace said.
"Simply put, our staffing levels were bloated and hindered our ability to be an efficient and nimble team-oriented company," OwenVan Natta, MySpace's chief executive officer, said in a statement.
"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," he added.
Latest statistics by market research firm ComScore showed that MySpace, owned by Rupert Murdoch's News Corp., lost the place of the most visited social networking website in the United States to rival Facebook in May.
Facebook had 70.28 million U.S. users last month, topping MySpace's 70.26 million, according to ComScore.
Source: Xinhua
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