New wave of layoffs at Netflix: 300 positions cut



Between loss of subscribers and stalling on the stock market, the streaming giant must reduce its costs.

Since its stock market crash of 70% last May, due to a drop of 200,000 subscribers at the end of the first quarter of 2022, Netflix continues the waves of layoffs. The streaming giant had already had to let go of 150 employees along with dozens of contractors and part-timers, and announced that more rounds of layoffs would follow. On Thursday, the price of Netflix stock was $180.08, up from more than $600 in January. In response, the company chose to once again fire some of its employees, this time around 300 people. The company, which represents 11,000 workers worldwide, has this time decided – after the animation sector – to purify that of commercial functions. For varietythe spokesperson said: Today, we are sadly parting ways with approximately 300 employees. As we continue to invest significantly in the business, we have made these adjustments so that our costs increase in line with our slowing revenue growth. We are very grateful for all they have done for Netflix and are working hard to support them through this difficult transition. ยป

After a loss of 200,000 subscribers, Netflix cancels animation projects

After having long and easily been the leader in the world of streaming, the N red platform finally took a hit against ever-increasing competition: Disney+, Prime Video, HBO Max, Apple TV+, etc. To keep its subscribers, the pressure is increasing: the various studios are gradually creating their own platform and thus recovering their rights, taking away valuable content from Netflix to distribute it to their own audience. However, the site has decided to keep the same budget as last year to finance its projects, up to 17 billion dollars, but wants to favor content that would be smaller, more ambitious and of better quality.

What to see on Netflix in June 2022 in France?


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