Netflix cuts roughly 300 jobs in second round of layoffs [FOX Business Network]
Netflix, Inc. (NFLX)
Last netflix, inc. earnings: 4/21 04:00 pm
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Source: FOX Business Network
Netflix is cutting roughly 300 additional jobs , or approximately 3% of its workforce, as the streaming behemoth is contending with a slowdown in its revenue growth. "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 told FOX Business in a statement. "We are so grateful for everything they have done for Netflix and are working hard to support them through this difficult transition." Ticker Security Last Change Change % NFLX NETFLIX INC. Powered By According to a memo obtained by the Hollywood Reporter, the layoffs are impacting about 216 employees in the U.S. and Canada, 30 employees in the Asia-Pacific region, 53 employees in the Europe, the Middle East and Africa region and 17 employees in Latin America. Netflix ((AP Photo/Jenny Kane, File)) The second round of layoffs come after roughly 150 Netflix employees were let go in April.
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