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Netflix lays off 300 extra staff as income development continues to sluggish ImpRead

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Netflix lays off 300 extra staff as income development continues to sluggish


Netflix’s revelation that it misplaced 200,000 subscribers within the first quarter put additional stress on an already beleaguered tech sector, however prime tech analyst Mark Mahaney believes the present weak point within the sector presents a number of alternatives for buyers.

Aaronp/bauer-griffin | Gc Images | Getty Images

Netflix is shedding round 300 staff throughout the corporate, CNBC confirmed Thursday.

The cuts come a couple of month after the streaming firm eradicated about 150 positions within the wake of its first subscriber loss in a decade.

“Today we sadly let go of around 300 employees,” the corporate mentioned in a press release Thursday. “While we continue to invest significantly in the business, we made these adjustments so that our costs are growing in line with our slower revenue growth. We are so grateful for everything they have done for Netflix and are working hard to support them through this difficult transition.”

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