MySpace to cut international staff, close offices

24 Jun 2009
00:00

Struggling social networking site MySpace has announced it will cut two-thirds of its international staff and close four offices outside the US.

The announcement comes a week after it said it would eliminate 30% of all staff.

Under the new arrangements, London, Berlin and Sydney are the company\'s new international hubs.

MySpace China, which is locally-owned, and its Japan JV are not affected.

The site lost $89 million for its parent company, Rupert Murdoch\'s News Corp., in the latest quarter, while rival Facebook has just overtaken it for the first time in terms of monthly visitors.

In the last two months News Ltd has appointed former Facebook COO Owen Van Natta as CEO and ex-AOL exec Mike Jones as COO.

"As we conducted our review of the company, it was clear that internationally, just as in the US, MySpace\'s staffing had become too big and cumbersome to be sustainable in current market conditions," Van Natta said in a statement.

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