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.
See "MySpace set to layoff 400 workers", Tim Arango, The New York Times, June 16, 2009