It is the season of binge firing! In yet another latest round of layoffs, Netflix has laid off 300 employees.
This is Netflix’s second round of layoffs, in May the streaming platform cut 150 staffers, part-timers, and contractors as a result of the slowdown in the company’s revenue growth.
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Netflix reported in April that it lost subscribers for the first time in more than a decade. That sent shock waves through Wall Street, leading investors to wipe billions of dollars off Netflix market cap.
The company's stock has plummeted roughly 70% this year.