CULTURE


Netflix cuts 300 employees in new round of layoffs

Baku, June 25, AZERTAC

Netflix has cut an additional 300 employees — around 3 percent of its workforce — marking the latest round of major layoffs at the beleaguered streaming giant, according to Hollywood reporter.

“Both Ted and I regret not seeing our slowing revenue growth earlier so we could have ensured a more gradual readjustment of the business,” read a note sent to staff on Thursday from Netflix co-chiefs Reed Hastings and Ted Sarandos.

About 216 staffers impacted were in the United States; 30 employees were cut in Asia-Pacific countries; 53 in Europe, the Middle East and Africa; and 17 in Latin America, the memo stated.

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