Money Talks

Layoffs and hiring freezes prevail among big tech giants

Netflix is cutting hundreds of jobs as it seeks to streamline operations, in the face of tougher competition. The streaming giant says it's letting go of 300 people or about 4% of its workforce. Last month, the company fired 150 employees, shortly after reporting that it had lost subscribers for the first time in a decade. Earlier, carmaker Tesla said it would cut about 3.5% of its staff and Facebook-owner Meta will slow down hiring of new employees. For details, we spoke to David Madden, who is market analyst at Equiti Capital in London. #Layoffs #TechFirms #Netflix

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