Netflix lays off 300 more employees as revenue growth slows

The revelation that Netflix lost 200,000 subscribers in the first quarter put further pressure on the already beleaguered tech sector, but top tech analyst Mark Mahaney believes the current weakness in the sector presents many opportunities for investors. Is.

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Netflix The company is laying off about 300 employees across the board, CNBC confirmed on Thursday.

The cut takes place after almost a month of streaming The company eliminated about 150 positions In the wake of its first customer loss in a decade.

“Today we have laid off approximately 300 employees,” the company said in a statement on Thursday. “While we continue to invest significantly in the business, we made these adjustments so that our costs continue to grow in line with our slowing revenue growth. We are very grateful for everything they have done for Netflix and for this difficult time. Working hard to support them through the transition.”

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