Netflix cuts 300 more jobs after subscriptions fall - News Summed Up

Netflix cuts 300 more jobs after subscriptions fall


Netflix has announced another round of job cuts as it grapples with slowing growth and increased competition. The streaming giant said it was cutting 300 more jobs – roughly 4% of its workforce – mostly in the US, after axing 150 people in May. The moves come after the company reported its first subscriber loss in more than a decade in April. The job cuts at Netflix come amid rising worries in the US that the labour market boom the country has enjoyed since the pandemic is coming to an end. Firms in the housing sector have also announced hundreds of cuts in recent weeks.


Source: Nigerian Tribune June 25, 2022 05:38 UTC



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