(By Richard Holway 1.00am 17th June 09) Even the social networking scene is getting bloody. Suffering from red hot competition from Facebook and Twitter, Myspace has announced it is to cut staff by a third from 1400 to 1000 in order "to return to the culture of a start up company".
Analyst Debra Williamson at eMarketer said "Thirty per cent is more than a haircut. It's chopping the head off."
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