Netflix is ​​laying off about 300 posts after losing subscribers

Netflix is ​​cutting about 300 positions today as part of a second round of layoffs. The company previously laid off about 150 employees and dozens of contractors in May.

The layoffs affect “many different teams” and mostly workers in the United States, although international roles are also being cut, Netflix spokesman Bao Nguyen said in a statement to The edge. Variety first reported on the cuts.

“Today, unfortunately, we have let go of about 300 employees,” Nguyen said. “As we continue to invest significantly in the business, we made these adjustments so that our costs grow in line with our slower revenue growth.”

It’s the latest round of job cuts following Netflix’s first-quarter earnings report, which announced revenue growth was slowing and losing subscribers for the first time in more than a decade.

Nguyen declined to comment on whether Netflix is ​​planning further layoffs in the short term. But co-CEOs Reed Hastings and Ted Sarandos told staff that “we plan to return to a more normal business in the future” in an email received by Hollywood Reporter.