Netflix has announced its decision to cut 300 more jobs as it grapples with slowing growth and stiff competition.<\/p>\n
The 300 staff make up 4% of Netflix’s workforce, mainly in the U.S. and will supplement the 150 redundancies made in May.<\/p>\n
“While we continue to invest significantly in the business, we made these adjustments so that our costs are growing in line with our slower revenue growth,” Netflix said in a statement on Thursday, adding that it will continue to hire in other areas.<\/p>\n
Netflix is determined to get back on track after losing its first set of subscribers in more than a decade in April, and to achieve its goal, it is introducing new policies, including an ad-supported service and a crackdown on password sharing.<\/p>\n
On Thursday, Netflix co-chief executive Ted Sarandos said the company was in talks with many companies exploring new advertising partnerships to appeal to price-sensitive audiences.<\/p>\n
“We’re not adding ads to Netflix as you know it today. We’re adding an ad tier for folks who say ‘Hey, I want a lower price, and I’ll watch ads,” Sarandos said.<\/p>\n