Netflix Inc. is terminating around 150 employees across the company, CNBC reported on Tuesday. These reductions come less than a month after its subscriber count dropped and forecast future losses in the next quarter.
A company representative said these redundancies are "primarily driven by business needs rather than individual performance, which makes them especially tough." The cut positions make up around 2% of the total 11,000 Netflix job positions.
The American streaming platform announced last week its plan to introduce ads in the last three months of 2022, as one of the ways to increase the business revenue.
