With the company's subscriber numbers slowing, a storm affects employees within Netflix

24 June, 2022
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With the company's subscriber numbers slowing, a storm affects employees within Netflix

US streaming service Netflix has laid off about 300 additional employees, as part of the company's efforts to cut costs as the company's subscriber growth slows.

And the Bloomberg news agency indicated that the layoffs constitute all sectors of the company, while the largest number of affected will be in the United States.

The number of employees scheduled to be laid off is now nearly double the number the company announced layoffs last month. "While we continue to invest heavily in the business, we have made these adjustments so that expenditure growth is consistent with slower revenue growth," a Netflix spokesperson said.

He added, "We are very grateful for all that these staff have done for (Netflix), and we will work hard to support them during this difficult transition."

It is noteworthy that Netflix is ​​restructuring its operations after the exit of more than 200,000 subscribers during the first quarter of 2022, which led to a change in the revenue model based on subscriptions.

These difficulties also led to a decline in the company's share price and a deterioration in the morale of its employees.



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