Netflix Inc is trying to better control rising cloud computing costs with longtime cloud partner Amazon Web Services as part of its efforts to reduce total expenses, the Wall Street Journal reported on Wednesday, citing people familiar with that work.
The streaming giant is also hiring more junior staff, paring back its real-estate footprint and reducing the number of copies of data and content it stores around the world, Reuters reported.
The company, which is struggling with lost subscribers and increased competition from companies including Walt Disney Co and Apple Inc, did not immediately respond to a request for comment.
Netflix is trying to grow its subscriber base to as many as 500 million customers globally in the next three years. It lost 970,000 subscribers from April through June and offered a forecast below Wall Street expectations for the current quarter.
In June, Netflix said that it laid off 300 employees, or about 4% of its workforce, in the second round of job cuts to reign in costs. (https://reut.rs/3RrAthC)
According to the report, the California-based company is hiring more junior employees – from interns to recent college graduates – as part of an expanded “emerging talent” recruitment initiative.
ICC warns Pak Cricket Board of legal action against it by JioStar
Dream Sports firm FanCode bags ISL global broadcast rights
Guest Column: Budget’s policy interventions to boost Orange Economy
Delhi HC cracks down on illegal streaming during ICC U-19, Men’s T20 World Cups
Holiday Films, Football drive Dec viewership surge: Nielsen
Fourth Dimension Media Solutions marks 15 years of industry leadership
Barun Sobti to headline Onir’s upcoming film ‘Tumhari Khushboo’
Ananya Birla forays into cinema with launch of Birla Studios
Travelxp launches HD/4K on Makedonski Telekom in Balkans
India Today Group named exclusive media partner for WGS Dubai 

