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Netflix laid off 300 employees after losing subscribers

  • June 24, 2022
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Netflix is ​​a subscriber streaming service that allows its users to watch series and movies on an ad-free device Netflix laid off 300 employees on Thursday Edit their

Netflix is ​​a subscriber streaming service that allows its users to watch series and movies on an ad-free device

Netflix laid off 300 employees on Thursday Edit their accounts after losing subscribers they have been blamed for since the beginning of the year.

This is the company’s second round of dismissal, which In May, it laid off another 150 employees After its shares fell as it acknowledged to investors that its growth had stalled.

“We’re sorry we did not see our slowdown before, so we could have made a more gradual adjustment to the business.”Acknowledged Netflix founders Reed Hastings and Ted Sarandos in a letter to staff and a newspaper compilation. Hollywood Reporter.

According to this media, The reduction affects 3% of the company’s workforce worldwide.

Most of the employees, 216, are based in the US and Canada, while 53 in Europe, 30 in Asia and 17 in Latin America.

“We know that these two rounds of dismissal were very difficult for everyone, which caused a great deal of anxiety and uncertainty. We plan to return the case to a more normal course in the future.“- The directors assured.

Despite the poor condition, The company has promised to increase its workforce again over the next year and a half with more than 1,000 new jobs.However, it has not been specified which areas monopolize this growth.

According to the company’s latest revenue report, released in April, Netflix lost 200,000 subscribers in the first quarter of 2022The period when he received a net profit of $ 1.597 million, less than $ 1,706 in the first three months of the previous year.

“Our relatively high penetration of households (including a large number of households that share accounts), combined with competition, creates difficulties for revenue growth.”Noted by those in charge.

Among the new measures it is considering and which will affect consumers, the service may charge an additional fee for sharing an account with other households and start broadcasting advertising to the cheapest subscriber.

According to EFE

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Source: Info Bae

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