Job cuts planned at MySpace
Posted by Emily Dilling on June 17, 2009 at 3:28 AM
The social media site MySpace plans to cut 30 percent of its workforce in order to become more "entrepreneurial and nimble" Media Week reported.
After the cuts are made, MySpace, which is owned by News Corp., will see its staff reduced to 1,000 employees for all U.S. branches of the company, a change from what MySpace CEO Owen Van Natta called a "bloated" staff.
Natta said his objective in streamlining the staff is to allow the site to "return to an environment of innovation that is centered on our user and our product." Jonathan Miller, CEO of digital media at News Corp. echoed Natta's intentions saying, "this restructuring will help MySpace operate much more effectively both structurally and financially."
After the cuts are made, MySpace, which is owned by News Corp., will see its staff reduced to 1,000 employees for all U.S. branches of the company, a change from what MySpace CEO Owen Van Natta called a "bloated" staff.
Natta said his objective in streamlining the staff is to allow the site to "return to an environment of innovation that is centered on our user and our product." Jonathan Miller, CEO of digital media at News Corp. echoed Natta's intentions saying, "this restructuring will help MySpace operate much more effectively both structurally and financially."
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