Netflix lays off 300 workers amid subscriber losses

Netflix CEO Reed Hastings in Madrid, Spain. The streaming service expects to lose two million more subscribers this quarter, as Netflix faces a more competitive streaming environment. — Getty Images/TNS

LOS ANGELES: Netflix on June 23 laid off 300 employees in the latest round of cuts as the company responds to a revenue slowdown and its first subscriber loss in more than a decade.

The Los Gatos, California-based streaming giant did not say what departments were affected by the cuts.