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Netflix plans to reduce its spending by $300 million this year, WSJ reported Friday, citing people familiar with the matter, as the streaming giant continues its push to improve profitability in a competitive market. From a report:
The company is looking to cut costs, in part, because its plans to crack down on password sharing broadly in the U.S. and elsewhere were pushed back from the first quarter to the second quarter, the people said. That change is expected to generate new revenue. In an internal meeting earlier this month, 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, the people said.
