I think we should take this as a sign that maybe the strategy of using music to drive MySpace's growth is failing a little: the company is laying off 30% of its staff.
This, though, should not be seen as a bad thing. Oh, no no:
“Simply put, our staffing levels were bloated and hindered our ability to be an efficient and nimble team-oriented company,” said MySpace Chief Executive Officer Owen Van Natta.
Aha. So, not just canning people, but telling them at the same time that they're the reason the company was inefficient and sludgy. Classy outfit.