DUBAI: Netflix Inc. plans to cut its spending by $300 million this year, the Wall Street Journal reported on Friday, citing people familiar with the matter.
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, according to the report.
Netflix declined to comment. Shares of the company were down nearly 2 percent in early trading.
Last month, Netflix beat estimates for first quarter but offered a lighter-than-expected forecast, demonstrating the challenges it faces in pursuit of growth.
The company said it shifted a wider launch of a plan to crack down on unsanctioned password sharing into the second quarter to make improvements.
As the streaming video pioneer faces signs of market saturation, it is exploring new ways to make money, such as password crackdown and a new ad-supported service.
Netflix in June also laid off 300 employees, or about 4 percent of its workforce, in the second round of job cuts aimed at lowering costs.
Netflix plans to cut spending by $300M this year – WSJ
https://arab.news/rpwu5
Netflix plans to cut spending by $300M this year – WSJ
- Company leaders urged staffers to be judicious with their spending, including in relation to hiring
- Shares of the company were down nearly 2% in early trading
Israel says ban on Gaza media access should stay: court document
- Israeli authorities have told the Supreme Court that a ban on international media access to Gaza should remain in place, arguing it is necessary for security reasons
JERUSALEM: Israeli authorities have told the Supreme Court that a ban on international media access to Gaza should remain in place, arguing it is necessary for security reasons, according to a government submission filed by the public prosecutor.
Since the outbreak of the Gaza war in October 2023, Israeli authorities have barred foreign journalists from independently entering the devastated territory.
Instead, Israel has allowed only a limited number of reporters to enter Gaza on a case-by-case basis, embedded with its military forces inside the blockaded territory.
The Foreign Press Association (FPA), which represents hundreds of foreign journalists working in Israel and the Palestinian territories, filed a petition with the Supreme Court in 2024 seeking immediate and unrestricted access for international media to the Gaza Strip.
Since then the court has given several extensions to the Israeli authorities to come up with a plan, but at a hearing last month it set January 4 as a final deadline.
Late on Sunday, the Israeli authorities filed their response with the court, a copy of which was obtained by AFP.
In the submission, the government said the ban on media access to Gaza should continue, citing security risks in the territory.
“Even at this time, entry of journalists into the Gaza Strip without escort, as requested in the petition, should not be permitted,” said the government submission.
“This is for security reasons, based on the position of the defense establishment, which maintains that a security risk associated with such entry still exists.”
The Israeli authorities said the ceasefire in Gaza, which came into effect on October 10, continues to face regular threats.
At least 420 Palestinians have been killed in Gaza by Israeli forces since the ceasefire took effect, according to Gaza’s health ministry.
The Israeli military said three of its soldiers have also been killed by militants during the same period.
The Israeli authorities said in their submission that the search for the remains of the last hostage held in Gaza is ongoing, suggesting that allowing journalists into the territory at this stage could hinder the operation.
The remains of Ran Gvili, whose body was taken to Gaza after he was killed during the Hamas attack on October 7, 2023, have still not been recovered despite the ceasefire.
All other 250 hostages seized on that day — both the living and the deceased — have been returned to Israel.
The Supreme Court is expected to issue a ruling on the matter, though it is unclear when a decision will be handed down.
An AFP journalist sits on the board of the FPA.
