MySpace stated that Tuesday it is lowering the nearly 50 % of its staff in an effort to develop a "much tighter focus".

The layoffs, which affect more than 500 people, which were placed in context of the site's October redesign, which comprises of chief executive Mike Jones in an effort to represent as a sign of the company's positive direction.

Huge layoffs at MySpace were believed, however, especially as executives compensating of the losses "not acceptable" in November.

Jones further stated that the layoffs were necessary to cut costs. "Today's tough but necessary changes were taken in order to provide the company with a clear path for sustained growth and profitability," Jones wrote, according to reports.

These renovations have been purely carried out by issues associated with their legacy business, and in no way released the performance of the new product. The latest organizational arrangement will help us to move more nimbly, that help develop products more briskly, and at the same time offering more flexibility on the financial case.

MySpace's U. K. business will come under Fox Networks' regulation, while the site's presence in Germany and Australia will be managed under "strategic local partnerships," according to the email.