MySpace Cuts Overseas Operations, Lay Off Two Thirds of Staff

Myspace is now one of the Internet social networks which was affected by the global recession. There has been News that Two Third of it Staff was layoff in their international offices down from 450 to just 150 people. Myspace was definitely affected by the increasing users who are transferring to Facebook.

The News Corp.-owned social network says it will operate from three major "hubs" located in London, Berlin, and Sydney.

In a company statement, MySpace CEO Owen Van Natta said the move was prompted by the current financial climate. "As we conducted our review of the company, it was clear that internationally, just as in the U.S., MySpace’s staffing had become too big and cumbersome to be sustainable in current market conditions. Today’s proposed changes are designed to transform and refine our international growth strategy," he said.

So who is next ? I just hope that soon this Global recession will end. And i