This follows the sudden departure of the company's chief executive Owen Van Natta.
The company intends improving discovery tools across each part of the site to allow an increase in the amount of relevant content to its users.
The site has added more content to its 'stream' feed which previously only incorporated status updates.
MySpace now has other features as well which show what music people have been listening to and what videos they have been watching. It also allows users to sort the stream by category.
The most recent Nielsen data shows persistent decline in the site's usage statistics.
In January 2010, MySpace had 3.9 million unique users in the UK, compared to the 23.9 million unique users accessing Facebook during the same month.