'Bloated' MySpace cuts a third of workforce

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MySpace said Tuesday it is cutting nearly 30 percent of its work force in a bid to become more efficient, bringing its staffing level more in line with its more popular rival, Facebook. The move, the latest cost-cutting effort at the site, comes less than two months after the unit of Rupert Murdoch's News Corp. hired former Facebook executive Owen Van Natta, 39, as its new chief executive.

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