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MySpace Slashes 30% of Staff

I’m sure I’ve mentioned my dislike for MySpace once or twice over the years. Well here’s another nail in the coffin… I’d spring for a nail gun for them.

MySpace, once the undisputed leader in social networking and the most popular topic on Mashable, announced it is cutting nearly 30% of its staff today.

The announcement is no surprise: not only has the struggling social network lost its lead to Facebook, but its $300 million/year advertising deal with Google ends next year, with Google unlikely to renew at the same price. The cuts bring MySpace (MySpace) down to 1000 US employees; rival Facebook has 850.

Full story here.