MySpace starts its layoffs

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MySpace is said to have let go up to 45 employees from the company, with sources saying that the figure might be smaller, according to TechCrunch. MySpace has refused to comment on the matter, and did not say if was from a cancelled project, just general layoffs or performance-based cuts.

This comes as its CEO, founder Chris DeWolfe, departed from the company and it brought in a new executive team led by Owen Van Natta.