The power service laid off 150 employees in May. Another 300 positions are now being filled.
Less than 3 hours ago
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Netflix notified employees Thursday. The vast majority of those affected are in the United States.
– Today we unfortunately have to let 300 employees go, says a spokesperson for the power channel Variety.
– At the same time as we continue with significant investments in business operations, we have had to make these adjustments, so that costs are in line with slower growth, the person in question adds.
– We are so grateful for everything these people have done for Netflix, and we work hard to help them through this difficult process, it continues.
In other words, twice as many must go now as this spring, when Netflix announced for the first time in ten years that they had lost subscribers and thus cut 150 positions.
Netflix has about 11,000 employees globally.
Has lost subscribers
In the first three months of this year alone, Netflix lost over 200,000 subscribers. In May, the channel stated in a press release that they expected several million subscribers to drop out during 2022.
After the stock price fell 25 percent in the first quarter of this year, Netflix announced according to Bloomberg that they are planning a low-cost version of the streaming service, which includes ads. This means a big turnaround for the hitherto ad-free streaming service.
Netflix has also announced that they will take action to prevent password sharing.
How the cost cuts will otherwise affect the content for the users is uncertain. But Netflix has announced that it will cut investment in movies and TV shows.
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