Netflix Fires 300 More Employees

Netflix has fired 300 of its employees. Issuing a statement on this Netflix Inc. said that it has lost such a large number of subscribers for the first time in the last decade, after which the company has taken job cuts to reduce costs. Let us tell you that this is the second time that Netflix has fired its employees. These 300 employees were about 4% of the company, who are now unemployed.

The company's move has affected most American employees, impacting the US workforce. Let us tell you that 150 jobs were cut by the company last month as well, after which Netflix's decision has come to the fore. Netflix said in a statement on Thursday, "While we continue to make significant investments in the business, we have done this so that our costs can grow in line with slow revenue growth."

The central bank of America has increased its interest rates a few days ago, which has started showing its bad effect on America. According to the company, after the decline in subscriber numbers in the first quarter, Netflix has forecast an even higher loss for the current period. To curb that downtrend, the company plans to introduce cheaper plans, an ad-supported subscription tier, for which it is in talks with several companies.