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.

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