Layoffs hit Netflix

Streaming service platform Netflix has laid off up to 150 employees as it continues to see a downturn in revenue and subscriber growth.

A Netflix spokesperson confirmed to The Hill on Tuesday about the latest string of departures, saying that the layoffs are a part of new changes focused more on a business approach rather than individual performance.

“As we explained on earnings, our slowing revenue growth means we are also having to slow our cost growth as a company. So, sadly, we are letting around 150 employees go today, mostly US-based,” Netflix spokesperson said in its statement.