Netflix Lays Off 300 More Employees: Reports

LOS GATOS, CA — Netflix laid off an additional 300 employees on Thursday, according to several reports. The decision was first reported by Variety.

The move comes a month after the Los Gatos-based streaming giant laid off 150 employees after reporting a decrease in subscribers for the first time in a decade.

“Today we sadly let go of around 300 employees,” a Netflix spokesperson said to Variety. “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 the first three months of 2022, around 200,000 subscribers left streaming giant Netflix, signaling potentially major changes in the rapidly growing and shifting streaming industry.

A survey of 1,000 internet users (both current and former Netflix subscribers) also found that most users say they left Netflix either due to increased prices, or because they felt its content quality had declined.

The company also said it would roll out an option this year for subscribers to pay less for a version of the service that came with ads.