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MySpace just announced that it is cutting its staff by nearly 30%. The company says this is part of a plan to restucture itself into a more innovative, efficient, and entrepreneurial business.

"Simply put, our staffing levels were bloated and hindered our ability to be an efficient and nimble team-oriented company,” said MySpace CEO Owen Van Natta in a statement. "I understand that these changes are painful for many. They are also necessary for the long-term health and culture of MySpace.  Our intent is to return to an environment of innovation that is centered on our user and our product."

The company says  the restructuring plan crosses all U.S. divisions of the company and lowers the total number of domestic staff at MySpace to 1,000 employees.

"MySpace grew too big considering the realities of today’s marketplace," says News Corp. CEO of Digital Media Jonathan Miller. "I believe this restructuring will help MySpace operate much more effectively both structurally and financially moving forward. I am confident in MySpace's next phase under the leadership of Owen and his team.”

The move was not entirely unexpected. As Doug reported last week, there had been talk of "large" or "massive" layoffs on the way for the company. On a related note, Facebook has caught up to MySpace in the US in terms of unique visitors, according to comScore.