Netflix lays off several hundred more employees

2024-12-23 19:34:31 source: category:Contact-us

Netflix is laying off roughly 300 more of its employees.

The decision comes shortly after the company laid off 150 employees in May.

"Today we sadly let go of around 300 employees," a spokesperson said in a statement 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."

Netflix's first-quarter revenue call in April revealed slowing revenue growth. The company lost 200,000 U.S. subscribers in that quarter, marking its first decline in customers in over a decade.

Netflix attributed part of the decline in subscribers to password sharing and estimated that 100 million households used another person's account.

More:Contact-us

Recommend

Louisiana mom arrested for making false kidnapping report after 'disagreement' with son

Louisiana authorities say a woman was arrested and charged for falsely reporting a child kidnapping

Microplastics Pervade Even Top-Quality Streams in Pennsylvania, Study Finds

Scientists have recently become aware that tiny fragments of plastic waste are almost everywhere, fr

Make Your Life Easier With 25 Problem-Solving Products on Sale For Less Than $21 on Prime Day 2023

We independently selected these deals and products because we love them, and we think you might like