This article is taken from IT Brief, written by Kelly Gregor:

MySpace confirmed industry rumours today when it announced that 300 jobs will be cut from its international operations.

The social networking site has been avoiding rumours for 10 days on the fate of the company and its international workforce outside the US.

But today it was announced that two thirds of its international workforce will be slashed in a bid to remain afloat during the recession.

The social networking site, a division of News Corporation, is set to close offices in four countries.

The announcement to reduce its European operations comes a few weeks after 400 employees were let go in the US, which was around 30% of its American workforce.