MySpace getting smaller

The social-networking site MySpace plans to cut 30% of its workforce, leaving the Beverly Hills-based company with about 1,000 employees in the U.S. The Wall Street Journal reports:

"Simply put, our staffing levels were bloated and hindered our ability to be an efficient and nimble team-oriented company," MySpace Chief Executive Owen Van Natta said Tuesday.

Both MySpace and the Journal are owned by Rupert Murdoch's News Corp.