What is the sentiment of this news? Please choose an answer from {strong negative/moderately negative/mildly negative/neutral/mildly positive/moderately positive/strong positive}.

Video streaming company Netflix said it has laid off 300 people — which represents 3% of its workforce — because of slowing growth and economic downturn. This is the firm's second layoff spree in two months, after it let go of 150 staffers in May.
moderately negative