A Netflix spokesperson said in a statement that the cuts were made so that the streamer’s “costs are growing in line with our slower revenue growth.”.

In May, Netflix laid off around 150 staffers due to “slowing revenue growth,” rather than “individual performance,” a Netflix spokesperson said at the time.

The staff cuts came shortly after another round of layoffs that saw the loss of multiple contractors and full-time staffers working at Tudum, a Netflix fan site run by the company’s marketing division.

The move comes as Netflix continues to grapple with and respond to an increasingly difficult streaming environment, where it is competing with tech giants like Amazon Prime Video and Apple TV+ as well as studio conglomerates’ platforms like Disney+, Hulu, Paramount+, HBO Max and Discovery+.

On April 19, Netflix disclosed that it had lost 200,000 subscribers in the first quarter of the year, falling far short of its own subscriber addition expectations.

When asked on an earnings call about a roughly $18 billion content spend for this year, Sarandos said, “We will continue to grow the content spend relative to prior years.” CFO Spencer Neumann added that Netflix is “pulling back” on its “spend growth across both content and non-content spend” while “still growing our spend and still investing aggressively.”.

“We’ve left a big customer segment off the table, which is people who say, ‘Hey, Netflix is too expensive for me and I don’t mind advertising,'” Sarandos said on a June 23 panel at Cannes Lions with Kara Swisher