What will MySpace become after a 30% headcount reduction?

By Scott M. Fulton, III June 16, 2009

The question financial analysts are asking this afternoon in the wake of News Corp.'s layoff of 30% of MySpace employees is not, "Will this help?" Or even, "Does this make things better." It appears to be, "Will this be enough?" In a frank statement this afternoon demonstrating he hasn't lost his touch since leaving AOL, News Corp.'s Chief Digital Officer Jonathan Miller pronounced the deed done, saying, "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 [CEO] Owen [Van Natta] and his team."

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