The online host of popular web services like Netflix and Spotify, AABaco, has announced it will be cutting back to 3,000 employees, to cut costs, and focus on growing the business and helping its customers.
AABacos parent company AAB Networks said in a blog post that it has cut its payroll by 100 people.
It said that it expects to announce layoffs in the coming weeks.
“While our overall staffing is lower than we had anticipated, the most important thing to keep in mind is that we have made the hard choices to take a better approach to our business,” AABancom said.
“The growth we’ve seen in the last several months is unprecedented in our history.
We have invested heavily in our business, and we are seeing results.
The time is now for us to take that next step to make the most of what we have to offer our customers and customers’ families.”
AABas source blog post said the company will have to cut its employees and move more of its operations to the United States, in part due to a regulatory clampdown that has kept many of its competitors out of the market.
In December, a California state court ordered AABAS to take $25 million in costs related to its merger with New Jersey-based AABA.
A new merger with AABCom would combine AABACA and AABBC with Aabaco.
The two companies are now the second largest hosting provider in the United Kingdom.
Earlier this year, ABAAC announced that it would cut the number of its employees to 200.