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Netflix lays off 300 employees in cost-cutting drive

(Reuters) - Netflix Inc (NASDAQ:NFLX) said it laid off 300 employees, or about 4% of its workforce, in the second round of job cuts aimed at lowering costs after the streaming...
Netflix lays off 300 employees in cost-cutting drive © Reuters. Toy figures of people are seen in front of the displayed Netflix logo, in this illustration taken January 20, 2022. REUTERS/Dado Ruvic/Illustration

(Reuters) - Netflix Inc (NASDAQ:NFLX) said it laid off 300 employees, or about 4% of its workforce, in the second round of job cuts aimed at lowering costs after the streaming giant lost subscribers for the first time in more than a decade.

The move mostly affected its U.S. workforce and came after the company cut 150 jobs last month.

"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," Netflix said in a statement on Thursday.

The world's dominant streaming service has come under pressure in recent months as inflation, the war in Ukraine and fierce competition weigh on subscriber growth. After the subscriber drop in the first quarter, Netflix has forecast even deeper losses for the current period.

To arrest that downtrend, the company plans to introduce a cheaper, ad-supported subscription tier for which it is in talks with several companies.

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30-06-2022 23:01:04 (UTC+7)

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 EUR/USD1.0468Neutral
 GBP/USD1.2160Neutral
 USD/JPY135.68↑ Sell
 AUD/USD0.6905↑ Buy
 USD/CAD1.2871Sell
 EUR/JPY142.04Sell
 EUR/CHF0.9999↑ Buy
 Gold1,815.15↑ Buy
 Silver20.427↑ Buy
 Copper3.7138↑ Buy
 Crude Oil WTI107.09↑ Buy
 Brent Oil110.34↑ Buy
 Natural Gas5.830↑ Sell
 US Coffee C230.23Neutral
 Euro Stoxx 503,454.86↑ Buy
 S&P 5003,796.80↑ Buy
 DAX12,783.77Neutral
 FTSE 1007,169.28Sell
 Hang Seng21,859.79Sell
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 Siemens AG97.09↑ Sell
 Deutsche Bank AG8.318Neutral
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Cập nhật 30-06-2022 23:01:06
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Cập nhật lúc 18:51:16 30/06/2022
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