Report: Netflix looking to cut costs across sectors

EPA-EFE/CAROLINE BREHMAN

Netflix Inc. is looking to reduce costs amid decelerated subscriber growth, the Wall Street Journal reported on Wednesday, saying the tech company has taken various steps to reduce spending.

According to sources cited by the newspaper, Netflix has stepped up efforts to control cloud computing costs while seeking ways to reduce the number of copies of its content that the streaming platform stores worldwide.

At the same time, it turned toward hiring more junior staff instead of experienced workers, including for engineering positions. Netflix has fired over 400 employees since the start of the year.

Baha Breaking News (BBN) / ND