The axe is falling yet again on MySpace, this time on the social networking site's overseas offices. The company announced today it intends to cut 300 workers, or two-thirds of its international employees, from its foreign operations, just a week after cutting 30% of its domestic workforce. It also will close at least four offices abroad as the number of international employees shrinks from 450 to 150.
MySpace's locally-owned China office and its joint venture in Japan will not be affected. The same can't be said for offices in Canada, Mexico, Argentina, Brazil, France, Italy, India, Russia, Spain, and Sweden, which will be reviewed and possibly closed as MySpace attempts to scale a bloated operation down to market-sustainable levels.
"It was clear that internationally, just as in the U.S., MySpace's staffing had become too big and cumbersome to be sustainable in current market conditions," MySpace CEO Owen Van Natta said in a statement today. The company has been struggling to regain traction against rival Facebook, which has dwarfed MySpace in worldwide unique monthly visitors in the last year and last month overtook the company in U.S. monthly visitors as well. News Corp., MySpace's parent company, reported an $89 million loss in the segment of its business that includes MySpace during the most recent quarter.
MySpace Cuts 400 Staff as Facebook Overtakes It in U.S. Visitors
Spring Cleaning at MySpace: CEO DeWolfe Fired, More Execs to Follow
MySpace Partners With Citysearch for MySpace Local