Netflix lays off another 300 employees amid plunging subscriptions
A month after struggling Netflix laid off 150 staffers, it let go another 300 of its 11,000-person work force on Thursday,reported. The cost-cutting comes as the streamer copes with plunging subscriptions that have seen its value slashed by 70 percent.
“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,” a spokesperson said.
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