That is a major staff reduction...

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 () down to 1000 US employees; rival Facebook () has 850.

 

In a statement, MySpace CEO Owen Van Natta

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http://mashable.com/2009/06/16/myspace-layoffs/