Netflix laid off 300 of its employees on Thursday. mostly from USA and Canada to close their accounts after losing subscribersWho is to blame since the beginning of this year?
That’s a second round of layoffs for the company, which laid off another 150 employees in May after its shares plummeted after it told investors its growth had stalled.
“We regret that we didn’t see our slowdown sooner, so we could have had a more gradual reorganization of the business,” said its founders.
Netflix, Reed Hastings and Ted Sarandos in a letter circulated to staff and collected by The Hollywood Reporter.
According to media, the outage affects 3% of the company’s worldwide workforce.
Most of the layoffs are in 216 US and Canadian offices, 53 in Europe, 30 in Asia and 17 in Latin America..
“We know that these two layoffs are very difficult for everyone, creating a lot of anxiety and uncertainty. We plan to return to a more normal workflow in the future,” the executives said. said.
Despite the bad situation, The company promised that its workforce could grow again with more than 1,000 new jobs in the next year and a half, but did not specify which areas to account for that growth.
According to the company’s latest earnings report released in April,
Netflix lost 200,000 subscribers in the first quarter of 2022, when it made a net profit of $1.597 million.below 1,706 achieved in the first three months of the previous year.
The relatively high household penetration (including a large number of households sharing accounts) combined with competition creates challenges for revenue growth.
Among the new measures he is considering and that will affect consumers, the service may charge additional fees for sharing the account with other households and start advertising on the cheapest subscription.
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Source: Exame
