Mass layoff at Netflix after losing 200,000 subscribers

The streaming giant Netflix announced on Tuesday the dismissal of 150 workers, especially at its headquarters in the United States, after the loss of 200,000 subscribers that the platform reported during the first quarter of 2022.

“The slowdown in our revenue growth means reducing our costs as a company”, justified the company in a statement sent to the press on Tuesday.

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The text goes on to claim that the changes are due to “business needs rather than individual performance” of the laid-off professionals and that they are working to “support them in such a difficult transition.”

The separation of these 150 employeeswhich in the US represents a cut of 2% of its total workforce, continues to spread the bad omens about the platform, since just a month ago its price on Wall Street fell by 36% as a result of the high number of casualties among its users.

Although Netflix subscribers increased during the coronavirus outbreak, now the scenario is different (Photo: Olivier Douliery / AFP) (OLIVIER DOULIERY /)

In fact, even then the company, decided to terminate the contract to an unspecified number of Tudum workers, a web page that is part of its conglomerate and in which its audiovisual content is promoted.

In addition, as reported by the specialized media Variety, the platform plans to eliminate another 70 temporary jobs in some of its associated animation studiosas well as in the hiring of freelance workers in charge of the group’s social networks.

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Given the saturation of the streaming platform market, experts estimate that Netflix could lose another 2 million subscribers during the current quartergenerating a great upheaval among its shareholders and workers.

The latest data offered by the company about the number of members of its workforce amounted to 11,000 employees. Likewise, the company based in Los Gatos (California, United States) has approximately 220 million users spread around the world.

Source: Elcomercio