Netflix Plans to Cut Spending by $300 Million; No Layoffs Expected: Report

Netflix plans to cut its spending by $300 million (nearly Rs. 2,465 crore) this year, the Wall Street Journal reported on Friday, citing people familiar with the matter. Company leaders urged staffers to be judicious with their spending, including in relation to hiring, but said there would be no hiring freeze or additional layoffs, according to the report.

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