<p>Netflix Inc plans to cut its spending by $300 million this year, the <em>Wall Street Journal</em> reported on Friday, citing people familiar with the matter.</p>.<p>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.</p>.<p>Netflix declined to comment. Shares of the company were down nearly 2 per cent in early trading.</p>.<p>Last month, Netflix beat estimates for first quarter but offered a lighter-than-expected forecast, demonstrating the challenges it faces in pursuit of growth.</p>.<p>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.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/business-news/i-t-department-looking-to-tax-netflixs-india-operations-1218004.html" target="_blank">I-T department looking to tax Netflix's India operation</a></strong></p>.<p>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.</p>.<p>Netflix in June also laid off 300 employees, or about 4 per cent of its workforce, in the second round of job cuts aimed at lowering costs.</p>
<p>Netflix Inc plans to cut its spending by $300 million this year, the <em>Wall Street Journal</em> reported on Friday, citing people familiar with the matter.</p>.<p>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.</p>.<p>Netflix declined to comment. Shares of the company were down nearly 2 per cent in early trading.</p>.<p>Last month, Netflix beat estimates for first quarter but offered a lighter-than-expected forecast, demonstrating the challenges it faces in pursuit of growth.</p>.<p>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.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/business-news/i-t-department-looking-to-tax-netflixs-india-operations-1218004.html" target="_blank">I-T department looking to tax Netflix's India operation</a></strong></p>.<p>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.</p>.<p>Netflix in June also laid off 300 employees, or about 4 per cent of its workforce, in the second round of job cuts aimed at lowering costs.</p>