Netflix again cut about 300 employees, accounting for 3% of all employees, about a month ago Netflix just laid off 150 people. Netflix said in a statement that the company’s revenue growth has slowed and costs have continued to rise, which is why layoffs will be made.
Netflix warned investors in April that spending growth in certain businesses would be withdrawn over the next two years. Still, Netflix’s spending is astronomical, such as its $17 billion commitment to content.
Netflix has rejected ads for years, but now to lure new subscribers, Netflix is touting a low-priced, ad-supported subscription service. Not only that, but Netflix has also cracked down on password sharing.
There are about 222 million paying households on the Netflix platform, but an estimated 100 million more households use the service through account sharing.
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