Netflix lays off 300 employees

Netflix has laid off 300 employees, or about 4% of its workforce, in the second round of job cuts aimed at lowering costs after the streaming giant lost subscribers for the first time in more than a decade.

The move mostly affected its U.S. workforce and came after the company cut 150 jobs last month.

Netflix says the adjustments were made to ensure its costs were growing in line with slower revenue growth.

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