Netflix trims staff to weather slowing growth

A sign posted in front of Netflix headquarters in Los Gatos, California. About 150 employees have been laid off, most of them in the United States, the spokesperson said, adding that Netflix also cut spending on contractors. — AFP

SAN FRANCISCO: Netflix on May 17 said it laid off about 2% of its staff in a belt-tightening move after growth slowed at the once-booming streaming television service.

“These changes are primarily driven by business needs rather than individual performance, which makes them especially tough, as none of us want to say goodbye to such great colleagues,” a spokesperson told AFP.