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Netflix lays off 300 more employees in latest round of cuts

The Straits Times LogoThe Straits Times1w ago

Netflix lays off 300 more employees in latest round of cuts

Quick Summary

June 24, 2022 7:24 AMNEW YORK (NYTIMES, BLOOMBERG) - Netflix laid off another 300 employees as the streaming giant seeks to bring costs under control amid uneven subscriber growth.

The company's stock price has fallen about 70 per cent this year.

The decision is a significant strategic pivot for the company, which had rejected adopting ads for years.


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Article Details

Category: Economy

Topics: Month Subscriber-only Large Year Subscribers Business 99/month Netflix Company Made Million

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-24, 07:24:06

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Reading Time: 3 minutes read

Article Length: 405 words

Coverage Area: Singapore

Availability: Desktop Web, Mobile Web

News ID: 6651

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About The Straits Times

The Straits Times Logo

Main Topics: Economy

Official Website: straitstimes.com

Update Frequency: 7 posts per day

Year Established: 1845

Headquarters: Singapore

News Last Updated: 9h ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

News Language: English

RSS Feed: Available (XML)

Website Security: Secure (HTTPS)

Publisher ID: #25

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