Netflix layoffs begin with about 150 cuts - report
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Layoffs are underway at Netflix (NASDAQ:NFLX), Deadline Hollywood reports, though in small numbers so far.
About 150 positions are being eliminated, at total that amounts to just under 1.5% of Netflix's (NFLX) 11,000-employee workforce.

The majority of the positions being cut are based in the United States, with a number of executives, including ones in Netflix's (NFLX) original content department, among those getting the pink slip, according to Deadline.
âAs we explained on earnings, our slowing revenue growth means we are also having to slow our cost growth as a company," said a Netflix (NFLX) spokesperson, in the Deadline report.
In Netflix's (NFLX) first-quarter earnings call, the company acknowledged that its plans to hold margins steady amid some slowing subscriber growth meant "pulling back" in some spending, content or otherwise.