Netflix lays off 300 more people — almost 3% of its staff
Video streaming company Netflix said it has laid off 300 people — which represents 3% of its workforce — because of slowing growth and the economic downturn. This is the firm’s second layoff spree in two months, after it let go of 150 staffers in May. In April, it also laid off a bunch of staffers from its editorial arm Tudum, which launched just last December.
“Today, we sadly let go of around 300 employees,” Netflix 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,” a company spokesperson said in a statement.