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Netflix is planning to cut its spending by $300 million this year, the Wall Street Journal reported on Friday. The company has been urging staff to deal with their spending wisely, including hiring spending, without halting hiring processes or having any additional layoffs.
The plans follow the streaming service’s decision to crack down on unsanctioned password sharing and offer a new ad-supported. Netflix had previously laid off four percent of its workforce, the company’s second round, in order to lower costs.
