As MySpace struggles to regain ground it’s lost to Facebook and sort out its revenue woes, executive departures from MySpace Latino, a combination Spanish-English site targeted at U.S.-based Latinos that launched a little over a year ago, indicate it may be on the chopping block. MySpace Latino’s VP of Hispanic sales and strategy, Manny Miravete, has left the company, and the site’s managing director, Victor Kong, has reportedly left as well. The site itself hasn’t been refreshed in over a week amid a wave of layoffs at MySpace’s U.S. and international offices.

When asked if it planned to shut down MySpace Latino, the company sent us this statement (bolded emphasis ours) via email:

“The MySpace Latino community will remain live and not shut down. We are restructuring and evaluating how Latin will be featured on our site as we know the importance of the genre. Before the launch of MySpace Latino, we frequently featured Latin artists, promotions, and events on MySpace Music and will continue to do so.”

The News Corp-owned social networking site created MySpace Latino to target its growing population of U.S.-based Latino users and make it easier for big-name corporations such as McDonald’s and Toyota to advertise to them. Nearly 14 percent of MySpace’s U.S. users are Latino, compared to just 5 percent of Facebook’s, according to Quantcast.