LOS ANGELES (AP) -- Struggling entertainment site MySpace said Tuesday that it is cutting nearly half of its staff worldwide, or about 500 people, after an extensive revamp in October overhauled its look and allowed it to be run with fewer people.
Mike Jones, the chief executive of MySpace, said cuts are "tough but necessary" and would put the site on a path to profitability while making it more nimble and entrepreneurial.
MySpace declined to say how much the cuts would save. A previous round of cuts in June 2009 eliminated 30 percent of its work force, or about 420 jobs.
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