MySpace Lays Off Over 400 Staffers

Today, has laid off 420 employees, or 30 percent of its staff across the board.

In a memo to staff, CEO Owen Van Natta said the company’s size become “unsustainable.”

“The future success of MySpace is dependent upon us operating as a nimble and entrepreneurial company with the adaptive mentality of a start-up,” he added.

There are also reports that MySpace’s parent company Fox Interactive Media is also cutting corporate staff.

If you hear anything, let us know in the comments below.