(Mountain) – Netflix has laid off 300 employees in the second round of layoffs after it laid off 150 workers last month as the company tried to cut costs amid a slump in revenue growth.
A Netflix spokesman confirmed the layoffs for The Hill on Thursday, saying the company continues to invest “significantly” in its business but needs to take action to ensure costs continue to rise in line with slower revenue growth.
“We are very grateful for everything they did for Netflix and are working hard to support them through this difficult transition,” a spokesman said of the sacked employees in a statement.
Netflix Canceled many shows scheduled after the failure. The streaming site sent a letter to shareholders when the loss was announced, and the company expects the decline in subscribers to continue. In the letter, it Predicted Loss of 2 million paid global subscribers In the second quarter of the year.
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