MySpace downsizing global employees, closing offices

Social-networking site MySpace said yesterday that it will cut 300international positions and close at least four offices outside theU.S. as it looks to cut costs and narrow its territory coverage.

Social-networking site MySpace said yesterday that it will cut 300 international positions and close at least four offices outside the U.S. as it looks to cut costs and narrow its territory coverage.

The move comes a week after the California-based company said it would cut nearly 30 per cent of its U.S. workforce in a bid to become more efficient.

MySpace has been trying to bring its staffing level more in line with its more popular rival, Facebook.

MySpace plans to trim its international work force to about 150 from the current 450 employees.

The restructuring will leave London, Berlin and Sydney as its primary international hubs. Offices in Argentina, Brazil, Canada, France, India, Italy, Mexico, Russia, Sweden and Spain will all be looked at for potential reductions.

 
 
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