Netflix issued a fresh round of layoffs on Thursday as the company attempts to recover from a dip in paying subscribers.
Netflix
Netflix ($NFLX) is an international, subscription-based television and movie service based in Los Gatos, California. The company operates a global streaming service with thousands of TV shows and movies, including some originals, as well as a direct-to-home DVD rental service. As of July 2020, the company had 190 million subscribers worldwide.
A rumor that Netflix may be targeting Roku for an acquisition sent the streaming platform’s stock skyrocketing on Tuesday.
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Around 150 employees at Netflix are being laid off as the company seeks to turn around its bad economic fortunes.
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Officials at Netflix said the company ended with 200,000 fewer subscribers at the end of its most-recent quarter.
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