Netflix is cutting another 300 jobs.
Netflix has announced another round of job cuts as it faces slower growth and increased competition.
The broadcasting giant said it was cutting 300 more jobs – roughly 4 percent of its workforce – mostly in the US, after laying off 150 people in May.
The moves come after the company reported the first loss of subscribers in more than a decade in April.
The firm is exploring an ad-supported service and is fighting password sharing while trying to drive growth.
“As we continue to invest significantly in business, we made these adjustments so that our costs increase in line with our slower revenue growth,” Netflix said in a statement Thursday, adding that yes continued to employ in other fields.
While Netflix has 220 million subscribers globally and remains the clear leader in the broadcasting market, it has faced stiff competition in recent years following the advent of rival platforms such as Disney Plus and Amazon Prime Prime Video.