{"id":317488,"date":"2022-06-24T11:12:24","date_gmt":"2022-06-24T11:12:24","guid":{"rendered":"https:\/\/www.mobileworldlive.com\/?p=348894"},"modified":"2022-06-24T11:12:24","modified_gmt":"2022-06-24T11:12:24","slug":"netflix-cuts-300-jobs","status":"publish","type":"post","link":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/2022\/06\/24\/netflix-cuts-300-jobs\/","title":{"rendered":"Netflix cuts 300 jobs"},"content":{"rendered":"

<\/p>\n

\tStreaming giant Netflix laid off 300 employees, mostly in the US, in a second round of job cuts following a\u00a0slowdown in subscriber growth. [1]<\/p>\n

That equates to about 4 per cent of its workforce being made redundant in the cost-cutting efforts, Reuters reported. The move comes after the company laid off 150 employees in May.<\/p>\n

In April Netflix blamed saturation in its biggest markets, increased competition and macro-factors including continued disruption of Covid-19 (coronavirus) as it missed its own estimates for subscriber growth in Q1 2022.<\/p>\n

Netflix continues to \u201cinvest significantly in the business\u201d, but made the redundancies to ensure that \u201ccosts are growing in line with our slower revenue growth\u201d, it explained in a statement.<\/p>\n

The cuts come amid the streaming service\u2019s plans to create a cheaper, ad-supported subscription tier to boost subscriber counts.<\/p>\n

[1] https:\/\/www.mobileworldlive.com\/apps\/news-apps\/netflix-braced-for-tough-2022-after-subscriber-wobble<\/p>\n\n

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Streaming giant Netflix laid off 300 employees, mostly in the US, in a second round …<\/p>\n

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