MySpace to cut international jobs
US based social networking company MySpace has announced that they are going to cut around 300 international jobs from their global operations.
The company is aiming to cut costs to stay competitive against the market leaders and emerging rivals.
Facebook has already overtaken MySpace to become the leading social networking service in USA and the world.
MySpace parent company News Corporation had recently appointed former Facebook executive Owen Van Natta as the new head of the company.
With these job cuts, MySpace would just have around 150 workers handling their international operations.
The company wants to get back to their start-up roots to stay profitable in these tough economic times.
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