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NewsCorporation, Rupert Murdoch's digital giant, and the owner of online social networking site MySpace, announced Tuesday that it will lay-off 400 employees in an effort to re-boot the company. The layoffs, representing about 30% of the site's workforce, come on the heels of a number of staffing changes made at the highest levels, and are part of the company's plan to return to a "start-up culture." The cuts are intended to address redundancies within the company, that chief executive Owen Van Natta says had hampered "our ability to be an efficient and nimble team-oriented company...Our intent is to return to an environment of innovation." Additionally, NewsCorporation will make cuts in the Fox Interactive Media group, the unit which includes MySpace.