for the first time in a decade, the streaming behemoth said Tuesday that it was laying off some 150 people across the company, primarily in the United States, representing 2 per cent of its total workforce.
In the first quarter earnings call in April, Netflix’s chief financial officer, Mr Spencer Neumann, said that in the next two years the company intended to pull back on some of its spending. While Netflix will continue to dedicate some US$17 billion annually to developing new television shows and movies, it will do so with fewer people working behind the scenes.
There are likely to be additional layoffs later this year, according to a person with knowledge of the situation who spoke on condition of anonymity to discuss internal company matters.
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