150 layoffs at Netflix after losing 200,000 subscribers

streaming giant Netflix announced the layoffs of 150 workers on Tuesday, particularly at its headquarters in the United States, following the platform’s reported loss of 200,000 subscribers in the first quarter of 2022. “The slowdown in our revenue growth means lowering our costs as a company,” the company said. Statement sent to the press on Tuesday. The text claims the changes were due to “business needs rather than individual performance” of the laid-off professionals, and they are working to “support them through such a difficult transition.”

layoffs of these 150 employees in the United States, reduced 2% of the total workforcecontinues to spread bad omens about the platform, as its price on Wall Street just a month ago dropped 36% as a result of multiple deaths among its users. In fact, at that time the company decided to terminate the contracts of a number of Tudum employees, which are part of its holding and an as yet undisclosed website where its audiovisual content is promoted. Additionally, as reported today from Variety special media, platform plans to eliminate 70 more temporary jobs in hiring freelancers responsible for some related animation studios and social networks of the group.

Given the saturation of the streaming platform market, experts predict that Netflix could lose another 2 million subscribers in the current quarter, creating major turmoil among its shareholders and employees. The company’s most recent data on the number of members of its workforce totaled 11,000 employees. Likewise, the company headquartered in Los Gatos (California, United States) has approximately 220 million users worldwide.

Source: Informacion

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