Netflix announced Thursday that it has fired 300 employees in a second headcount reduction after losing subscribers for the first time in more than 10 years.

The reduction reached about 4% of the streaming giant’s workforce, affecting primarily US employees. They came after the company cut 150 jobs last month.

“We continue to invest heavily in our business, but we have made these adjustments to increase costs as revenue growth slows,” Netflix said in a statement.

Netflix said it expects to lose 200,000 subscribers worldwide in early 2022 in February and reduce 2 million users in the next quarter.

The company has blamed a variety of factors, including intensifying competition, the economy, the war in Ukraine, and the large number of people sharing accounts with unpaid households.

Last month’s layoffs also affected the company’s US workforce primarily. Proponents and ex-employees were including many employees in the underrepresented group at the time in the cut, withdrawing some of the diverse content that the company had funded after George Floyd’s death. Said it seems.

Ted Salands, Netflix Chief Content Officer and Co-CEO at the Cannes Lions Summit on Thursday. Photo: Eric Gaillard / Reuters

“Almost everyone we see on LinkedIn posts about dismissals was working on diversity, fairness, and inclusiveness across the company,” said Evette Dionne, a former Netflix worker. Tweeted at that time.. “These people weren’t the only ones fired, but there are too many out of 150 for a coincidence.”

The company denied those reports. It didn’t immediately respond to Thursday’s Guardian’s request for comment.

To offset subscriber losses, Netflix is ​​also considering adding ads to its services in exchange for low-cost subscriptions, in addition to reducing costs. This is a movement that has been resisting for a long time.

On Thursday, Netflix CEO Ted Sarandos said the company is in talks with several companies about advertising partnerships.

Earlier this week, media reports said it was discussing potential marketing partnerships with Alphabet’s Google and Comcast’s NBCUniversal.

“We’re talking to all of them right now,” Salandos said at the Cannes Lions conference when asked which company Netflix was trying to partner with.


By Author

Leave a Reply

Your email address will not be published.