Netflix has announced plans for a reduction in headcount of 300 as the streamer deals with a decline in its rate of growth.
The departures, predominantly in the United States, follow 150 job losses made in May.
“Today we sadly let go of around 300 employees,” Netflix said in a statement released on Thursday. “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.”
In April, Netflix reported that its subscriber numbers were beginning to stagnate, announcing plans to tighten up on password sharing, and launch an advertising-supported version of the platform. Earlier this week it was reported to be holding discussions with Alphabet’s Google and Comcast’s NBCUniversal over potential marketing arrangements.
200,000 subscribers had been lost globally since the start of the year and Netflix is forecasting a reduction of 2 million when it publishes its next financials.
