In 2023, Netflix (NASDAQ:NFLX) intends to cut expenditures by $300 million, according to a Friday Wall Street Journal story.

According to those who know the situation, the streaming behemoth is still working to increase profitability and reduce expenses, with its intentions to tighten down password sharing being postponed from Q1 to Q2.

According to the article, during an internal meeting earlier this month, Netflix executives urged staff members to make sound financial decisions, including hiring wisely. They did point out that neither a hiring freeze nor further layoffs are planned.

According to a recent statement from Netflix, the company has postponed its crackdown on password sharing while it figures out the optimal strategy for both users and the company. As a result, according to WSJ sources, income from the adjustment would now likely arrive in the second half of the year.

Netflix shares are up over 13% in 2023, although the stock is down over 1% on Friday.