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Netflix is shedding roughly 300 extra of its workers.
The choice comes shortly after the corporate laid off 150 workers in Might.
“Right this moment we sadly let go of round 300 workers,” a spokesperson mentioned in a press release Thursday.
“Whereas we proceed to take a position considerably within the enterprise, we made these changes in order that our prices are rising consistent with our slower income progress. We’re so grateful for every thing they’ve executed for Netflix and are working onerous to help them by this troublesome transition.”
Netflix’s first-quarter income name in April revealed slowing income progress. The corporate misplaced 200,000 U.S. subscribers in that quarter, marking its first decline in clients in over a decade.
Netflix attributed a part of the decline in subscribers to password sharing and estimated that 100 million households used one other particular person’s account.