Netflix Inc (NASDAQ:NFLX) has laid off around 4% of its workforce after losing subscribers for the first time in over a decade.
The streaming giant said it laid off 300 more employees, having last month let go of 150 employees.
In February, Netflix revealed that it lost about 200,000 subscribers globally, and projected it would lose a further 2mln in the upcoming quarter.
War in Ukraine, surging costs of living and greater competition were all given as reasons as to why subscriber numbers fell, as well as many people who share accounts with non-paying households.
To offset some of the falling subscribers, Netflix said it is considering adding advertising into the service in return for a lower-price subscription as well as cutting costs.
Its second-quarter results and business outlook, including news on whether subs numbers have continued to fall, will be published on July 19.