Netflix is laying off around 300 more employees across the company. The cuts come about a month after the streaming company eliminated about 150 positions.
Netflix had warned investors in April that it would be pulling back on some of its spending growth. The company still plans to invest heavily, including around $17 billion in content.
Netflix is working to crack down on rampant password sharing as well. In addition to its 222 million paying households, more than 100 million households use its service through account sharing, the company said.
Netflix shares were roughly even in afternoon trading Thursday, but are off more than 70% year to date. This report’s information was first seen on CNBC; to read more, click this link.