LOS GATOS, Calif. (KRON) — Netflix is subleasing its Los Gatos campus, KRON4 has confirmed. Speaking on background, a Netflix representative said the streaming service would be subleasing its property at 100 Winchester Circle and 150 Winchester Circle in Los Gatos.
Speaking anonymously, a Netflix spokesperson told KRON4 that the company regularly evaluates its real estate portfolio to ensure it is optimizing spaces. The spokesperson said it was part of ongoing efforts to maximize potential for planned growth. Teams like the product team that worked in Los Gatos are moving more toward a hybrid/remote model in the wake of the COVID-19 pandemic.
It’s been something of a trying year for the streaming service which announced earlier this year that it had lost subscribers for the first time since 2011.