Streaming provider Netflix reported a drop in its user base for the first time since its inception a few weeks ago. Now you want to rescue and terminate hundreds of employees. In addition, they are looking for partners for an ad-funded version. Like the US Economic Department Bloomberg reports, Netflix cut another 300 jobs today. The company is thus continuing the measures it took a few months ago to reduce its own costs.
Cost cutting with the lower number of employees
According to the report, the most recent layoffs have occurred across all divisions of the group and have mostly affected workers in the US. The company wants to cut redundant jobs to reduce personnel costs and thus have more financial room for other topics. Employees have been laid off repeatedly in recent months. In the past eight months, there have been approximately 450 layoffs for people directly employed by Netflix.
In addition, there were another 150 so-called contractors or employees who worked for the streaming giant for free. Most recently, about 150 employees were laid off last month. The company employed approximately 11,300 people worldwide at the end of 2021. Until now, management had always justified the cancellations with the desire to optimize internal processes and align product plans.
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