MySpace Lops 300 International Employees

Los Angeles-based MySpace reported this morning that the firm intends to restructure the firm's international operations, and will cut 300 employees from the division. According to MySpace, it is in consultation with international employees to reduce its staff from 450 employees to approximately 150 employees, and close at least 4 of its offices outside the United States. MySpace said that its offices in Argentina, Brazil, Canada, France, India, Italy, Mexico, Russia, Sweden, and Spain are all under review. In a statement, new MySpace CEO Owen Van Natta said that the firm's international staffing had become "too big and cumbersome to be sustainable in current market conditions."