MySpace Lays Off 400

Two months after taking over as CEO, Owen Van Natta is laying off 30 percent of MySpace employees. His outlook remains bleak; when was the last time you heard a CEO call his company "bloated" in a press release?

Two months after taking over as CEO, Owen Van Natta is laying off 30 percent of MySpace employees. His outlook remains bleak; when was the last time you heard a CEO call his company "bloated" in a press release?