July 3, 2022

News of the Trade

Latest trading, investing, and financial news

Netflix lays off 300 employees in second round of job cuts

Netflix Inc. announced a layoff of about 300 people on Thursday, its second significant staff reduction in recent weeks.

“Today we sadly let go of around 300 employees,” a Netflix
NFLX,
-1.21%
spokesperson told MarketWatch. “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. We are so grateful for everything they have done for Netflix and are working hard to support them through this difficult transition.”