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Netflix cuts 150 jobs, more layoffs planned

The world’s largest streaming provider for movies and series Netflix is ​​responding with the usual measures to the recent disappointing company figures. In the US, at least some jobs are being cut – for “business reasons”. From one of the colleagues at IGN According to this email, Netflix is ​​laying off about 150 employees in the United States.

The layoffs will initially affect only about two percent of the group’s global workforce. The background is actually the recently reported disappointing corporate figures. In the email, management justifies the cancellations with the company’s needs and the internal budget cuts. You have to cut jobs that are not based on the performance of individual employees, but for business reasons.

Expect more layoffs in the coming months

You don’t want to lose “great colleagues,” but you do have to cut costs, according to Netflix’s human resources department. The letter also began to prepare workers for further layoffs. It was said that more jobs are to be cut in the coming months. According to Netflix, going forward, it wants to focus on its strengths and invest accordingly.

Among other things, they want to invest money in non-English content. Recently, the group’s income had fallen sharply, partly because the number of users decreased. In the last quarter, the company had to accept its 200,000 subscriber drop for the first time. Netflix also expects a further decline in the number of users of approximately two million for the current quarter. More than 170 million people now use the paid streaming provider. It was recently the first time that Netflix saw a declining number of users.

Ron Harold

It has been a long time since I joined Research Snipers. Though I have been working as a part-time tech-news writer, it feels good to be part of the team. Besides that, I am building a finance-based blog, working as a freelance content writer/blogger, and a video editor.

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  1. Pingback: Netflix Fires 300 More Employees – Research Snipers

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