Technology breaks keep coming. On Thursday, Netflix laid off another 300 employees, or about 3% of its staff. The company had previously laid off 150 employees in May.

“Today, unfortunately, we left about 300 employees. “As we continue to invest significantly in business, we made these adjustments so that our costs increase in line with our slower revenue growth,” said a Netflix spokesman. Fast company in a statement. “We are very grateful for everything they have done for Netflix and are working hard to support them in this difficult transition.”

This announcement is part of a last nail on layoffs in technology. More than 16,000 tech workers lost their jobs in May, while over 7,000 have been affected so far this June. MasterClass founder and CEO David Rogier announced that the company had laid off 20% of its staff – or about 120 employees – to “adapt to the deteriorating macro environment”.

In April, Netflix discovered that it had lost 200,000 subscribers – the first time in a decade that the broadcasting service reported a drop in customers. The company has consistently lost revenue, despite increasing the price of all its subscription offers in january, and company shares have fallen by about 70% in the last six months.

In April, Netflix announced it would create a new less expensive subscription option for customers who want to sit down through ads. At the Cannes Lions Festival on Thursday, co-CEO and content chief Ted Sarandos said he wanted the new ad-supported level to be a better experience than television broadcasting. “What I want to be our product is better than TV,” he said. “So when I think about how advertising is currently served on broadcast … I think there’s a lot of work to be done there.”

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