Netflix lays off 300 employees in cost-cutting drive

23/6/2022 9:28:00 PM

Tech: Netflix lays off 300 employees in cost-cutting drive - Reuters

Tech: Netflix lays off 300 employees in cost-cutting drive - Reuters

(June 23): Netflix Inc 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 US 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

(June 23): Netflix Inc 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 US 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.

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A (June 23): Netflix Inc 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.BERNAMApix KUANTAN : The Pahang government will give a RM1,000 cash incentive each to the 300 students from the state who scored straight As in the Sijil Pelajaran Malaysia (SPM) 2021, said Menteri Besar Datuk Seri Wan Rosdy Wan Ismail ( pix ).A (June 23): Turkey’s Central Bank opted for a longer policy pause in the face of runaway inflation and a steep depreciation in the lira, even after a blunt message from President Recep Tayyip Erdogan calling for interest-rate cuts to resume.The barely two-year-old female calf had been limping in pain for days before wildlife rangers found it at the Felda Sahabat 5 area in Lahad Datu district.

The move mostly affected its US 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. A total of 17,008 students in Pahang sat for the SPM examination, and the results were released on June 16. 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. Among the factors behind faster inflation are supply shocks and an increase in energy prices because of geopolitics, according to the MPC. After the subscriber drop in the first quarter, Netflix has forecast even deeper losses for the current period. Wan Rosdy also congratulated the SPM top achievers from Pahang and wished them the best in their future endeavours. To arrest that downtrend, the company plans to introduce a cheaper, ad-supported subscription tier for which it is in talks with several companies. Jafry said wildlife rangers did a follow up check on the calf on June 20, and saw that its injury was getting worse.

Subscribe to Mid-day email alert We deliver news to your inbox daily . — Bernama. Inaction by Turkish policy makers since they ended a round of rate cuts last year has put added strain on the lira and touched off a surge in consumer prices that Goldman Sachs Group Inc estimates will soon reach 80%.