With Netflix’s stock continuing to slide, the company announced Tuesday that it will lay off nearly 150 employees from across the company. That’s roughly 2 percent of the entire workforce here in the United States. According to a statement from the company, the decision came as a result of “business needs” rather than the performance of individual employees.
As we explained [in reporting Q1] A Netflix spokesperson said in a statement obtained diverse. “Unfortunately, we are allowing about 150 employees to leave today, most of them in the United States. These changes are primarily driven by business needs rather than individual performance, which makes them particularly challenging as none of us want to say goodbye to these wonderful colleagues. We are working hard to support them through this transition. very difficult.”
150 full-time jobs have been eliminated by the company, as well as 70 part-time jobs in the animation sector. An unlimited number of contracts and freelance jobs are also being cut.
“A number of agency contractors were also affected by the news announced this morning,” the statement added. “We are grateful for their contributions to Netflix.”
Earlier this year, Netflix announced a net loss of nearly 200,000 subscribers, its first loss in a decade. At the time, the company revealed to investors that it expected to cancel an additional 2 million subscribers during the second quarter. Shortly after these numbers were revealed, the company largely blamed low sign-ups in sharing account passwords across households.
“This is a great opportunity because these families are already watching Netflix and enjoying our service,” the channel wrote in its message. “Sharing has likely helped fuel our growth by getting more people to come to and enjoy Netflix. We have always tried to share. inside Easy individual home, with features like profiles and multiple streams. While these have been very common, they have caused confusion about when and how Netflix can be shared with other families.”
Although the procedures for stopping password sharing have been tested, no feature has been rolled out to all users.
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