Netflix has laid off approximately 150 employees across the company, according to an internal memo obtained by The Hollywood Reporter. The publication further adds that the layoffs constitute 2% of the streaming giant's total workforce, and most of the cuts are happening in the United States.

Previously, Netflix has been reducing contractor roles in its social media and publishing channels. Alongside these most recent 150 layoffs, some internal restructuring is taking place--the streaming service's animation division slashed 70 roles, and Deadline is reporting that the indie film division will "suffer heavy casualties."

"As we explained on earnings, our slowing revenue growth means we are also having to slow our cost growth as a company. So sadly, we are letting around 150 employees go today, mostly US-based," a Netflix spokesperson said in a statement. "These changes are primarily driven by business needs rather than individual performance, which makes them especially tough as none of us want to say goodbye to such great colleagues. We're working hard to support them through this very difficult transition."