Netflix, Inc NFLX The Wall Street Journal reports that it has reduced its real estate footprint, curbed corporate swag, controlled cloud computing costs, and hired more junior staff to overcome the decline in subscribers.
Netflix’s operating expenses grew 15% year over year to $23.5 billion in 2021, thanks to programming, salaries and content delivery.
Netflix is also trying to limit spending on movies and TV shows.
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Netflix lost nearly a million subscribers to competition in the June quarter.
Netflix has cut over 400 employees this year and has wanted to continue spending money on film and TV programming.
Netflix has worked with a longtime cloud partner to control rising cloud computing costs Amazon.com Inc AMZN Amazon Web Services. It had long invested heavily in cloud and network infrastructure to increase the credibility of the service.
Netflix struggled to keep costs under control as it tried to…