Today, the Wall Street Journal reported that Netflix wants to cut spending by $300 million this year. This comes as Netflix is joining a growing number of streaming services looking to cut costs and become more profitable or, in Netflix’s case, more profitable.
Netflix reportedly had a meeting earlier this month where it asked staff to be more careful with spending. Not only that but to be more careful with hiring. Right now Netflix says there is no hiring freeze or layoffs planned but that they want to be more careful when it comes to plans to hire new staff.
Source: Netflix Reportedly Plans to Make Major Cuts As Competition Grows | Cord Cutters News