On the heels of an unusually rough quarter and a forecasted decline of 2 million subscribers, Netflix laid off approximately 150 people on Tuesday.
The layoffs, which impact "mostly US-based" staff, are due to "slowing revenue growth," according to a statement from a Netflix spokesperson. "These changes are primarily driven by business needs rather than individual performance," the statement said," which makes them especially tough."
The personnel cuts hit divisions across the company and are not concentrated in any particular department. As Deadline first reported, the layoffs impacted at least some employees in "executive ranks, including in original content." The company has about 11,000 employees in total.
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