Netflix Lays off 3% of Total Staff

Netflix has laid off about 300 additional employees with a cut representing about 3% of the total staff, about a month after the broadcasting company cut about 150 jobs following its first subscriber loss in a decade.

"Unfortunately, we have laid off approximately 300 employees," Netflix said in a statement. “While we continue to invest heavily in the business.”

We made these adjustments so that our costs grow in line with our slower revenue growth. We are so grateful for everything they have done for the company and are working hard to support them through this difficult transition.”