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MySpace to reduce its staff strength by 47% across all divisions globally

Social networking site MySpace, which is owned by Rupert Murdoch’s News Corp, plans to reduce its staff strength by 47 per cent across all divisions globally. The move, which is part of a ‘significant organizational restructuring’, is expected to impact about 500 employees of the company.

Social networking site MySpace, which is owned by Rupert Murdoch’s News Corp, plans to reduce its staff strength by 47 per cent across all divisions globally. The move, which is part of a ‘significant organizational restructuring’, is expected to impact about 500 employees of the company.

According to MySpace CEO Mike Jones, the company plans to enter into some partnerships in UK, Australia and Germany to handle its advertising sales and content. Mike Jones has further said that MySpace will retain a core, dedicated international team to work with partners in order to ensure users, content partners and advertisers continue to be served. [Source: CNet]

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