MySpace Cuts 300 Jobs Outside U.S.
Website loses two-thirds of foreign workforce
By Ali Jaafar -- Daily Variety -- Broadcasting & Cable, 6/23/2009 8:10:29 PM EDT
LONDON — MySpace, the social networking site owned by Rupert Murdoch's News Corp., announced Tuesday it was axing 300 jobs outside of the U.S. in an effort to reduce costs.
The cuts amount to two thirds of MySpace's international workforce. The announcement comes a week after the site, which was acquired by Murdoch for $580 million in July 2005, revealed it would be shedding 400 jobs in the U.S., equivalent to 30% of its workforce there.
"As we conducted our review of the company, it was clear that internationally, just as in the U.S., MySpace's staffing had become too big and cumbersome to be sustainable in current market conditions," commented MySpace chief exec Owen Van Natta in a statement.
Click here to read the full story at Variety.com
(Ali Jafaar writes for B&C sister publication Daily Variety)
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