Netflix has fired another 300 workers as the once-mighty streaming giant is forced to scale back as subscribers drop and competition heats up.
The layoffs are global, although the majority are based in the US.
This follows the sacking of 150 workers last month, and the loss of 200,000 subscribers in the March quarter, the first time the company has lost subs in over a decade.
On top of this, Netflix has signalled it expects to shed a further two million subscribers by the end of the current quarter, and is taking steps to mitigate these losses.
Netflix shut down its blog Tudum in May, just months after it launched, laying off all the staff employed to run it. “These changes are primarily driven by business needs rather than individual performance,” the company stressed at the time.
“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,” a Netflix spokesperson said of the latest cuts.
“We are so grateful for everything they have done for Netflix and are working hard to support them through this difficult transition.”
