Netflix is cutting about 300 jobs today as part of a second round of layoffs. The company previously laid off about 150 employees and dozens of contractors in May.
The layoffs affect “many different teams” and mostly U.S. workers, although international roles are also being cut, Netflix spokesman Bao Nguyen said in a statement to The Verge. Variety first reported on job cuts.
“Today, unfortunately, we have laid off about 300 employees,” Nguyen said. “While we continue to invest significantly in the business, we have made these adjustments so that our costs grow in line with our slower revenue growth.”
It’s the latest round of job cuts after Netflix’s first-quarter earnings report, where it announced that revenue growth was slowing and that it had lost subscribers for the first time in more than a decade. .
Nguyen declined to comment on whether Netflix plans additional layoffs in the short term. But co-CEOs Reed Hastings and Ted Sarandos told staff that “we plan to return to a more normal course of business in the future” in an email obtained by The Hollywood Reporter.