MySpace to cut another 300 international jobs

MySpace is planning to cut 300 jobs and close four offices outside the US. The news follows an announcement that 420...

MySpace is planning to cut 300 jobs and close four offices outside the US.

The news follows an announcement that 420 jobs in America would be cut.

CEO Owen Van Natta said in a letter to staff that the international cuts are the next stage in the company's global restructure.

The company plans to rationalise offices in Argentina, Brazil, Canada, France, India, Italy, Mexico, Russia, Sweden, and Spain. It will cut its 450 staff to 150.

The restructuring plan will leave offices in London, Berlin and Sydney as "regional hubs" for the company's international operations.

CEO Owen Van Natta said in the letter to staff that the restructuring plan is "designed to rein in growth in staff and expenses that we cannot sustain".

He added, "Our goal to tap into as many international markets as possible drove us to create too many offices around the globe, and with them came inefficiencies. Under the new plan, we will refocus our efforts on regional business partnerships and integration in a smaller number of territories, while retaining a robust international presence."

He said in a press statement: "With roughly half of MySpace's total user base coming from outside the US, maintaining productive and efficient operations in our international markets is important to users worldwide and our immediate financial strength.

"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. Today's proposed changes are designed to transform and refine our international growth strategy."

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