Netflix Axes Another 300 Staff, Taking Total Layoffs To More Than 450

Netflix An additional 300 employees have been laid off.

It comes after Deadline revealed in May that redundancies were underway, with the initial 150 positions being liquidated as a result of a slowdown in the company’s revenue growth.

A Netflix spokesperson confirmed to Deadline, “Today we laid off about 300 employees.” “While we continue to invest significantly in the business, we made these adjustments so that our costs could increase in line with our slower revenue growth. We are so grateful for everything he has done for Netflix and working hard to support him through this difficult transition. ,

Streamers have a global workforce of about 11,000 and Netflix lost 200,000 subscribers during its first quarter after layoffs.