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text source NYTimes 

The social network MySpace is reducing its staff to cut costs in an effort to return to what it calls a “startup culture.” MySpace, a division of News Corporation, said the layoffs would affect all American divisions of the company and lower the total number of staffers to around 1000.

Owen Van Natta, a former Facebook executive hired in April to run MySpace, said in a press release that the MySpace organization had become bloated:

“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.”

Jonathan Miller, News Corporation’s chief executive of Digital Media, added in the press release: “MySpace grew too big considering the realities of today’s marketplace. I believe this restructuring will help MySpace operate much more effectively both structurally and financially moving forward. I am confident in MySpace’s next phase under the leadership of Owen and his team.”

According to comScore, Facebook recently matched MySpace in traffic in the United States — the one country where MySpace, with 70 million members, still had an advantage.