Home > Technology > MySpace has said it would cut 420 jobs

MySpace has said it would cut 420 jobs

Nearly 30 percent of its domestic staff, in a restructuring aimed at boosting efficiency.

The restructuring plan affects all US divisions of the company and the round of job cuts will lower the domestic workforce to 1,000 employees.

Facebook replaced MySpace last year as the world's most popular social network, and industry figures show it has been widening its lead.

MySpace was in second place, with its total minutes declining from 7.3 billion in April 2008 to 5.0 billion in April 2009, the survey showed.

MySpace claims 130 million users compared with Facebook's audience of 200 million.