Popular Internet social community Myspace announced today that it is laying off 30 percent of its workforce worldwide. Myspace's new CEO, Owen Van Natta, said that the move was to foster "an environment of innovation".
The cut amounts to roughly 420 people leaving the company with about 1000. Traffic to Myspace has been falling steadily over the past year as users have shifted over to Facebook.
"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 CEO Natta.
In April, Mypspace co-founder Chris DeWolfe resigned as CEO and Tom Anderson was due to step down as President to take a creative role within the organization.
- iTuned's blog
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Thanks for the news
This comes as a surprise to me. Sort of says Myspace is heading downhill fast and Facebook taking over!
Wow
I didn't even know the CEO resigned and Tom no longer President.