After losing users for the first time in more than a decade, Netflix confirmed last Tuesday (17) the layoff of 150 employees at some of the company’s headquarters.
According to the streaming service, most of the cuts were in the United States, without clarifying which other countries were also affected.
Netflix did not say whether any collaborators in Brazil were terminated. In the US, the cuts represent about 2% of the company’s workforce in the country.
The company’s latest financial report, released at the end of April, revealed a drop of 200,000 subscribers on the platform, a figure that reflects the suspension of the streaming service in Russia, due to the war, and the market competition with other services, like Disney+, for example.
Netflix has since said it would need to adjust a spending cut and has already laid off employees at its fan-facing site Tudum.
“Our slower revenue growth means we are also having to slow cost growth as a company,” a Netflix spokesperson said in a statement.
“These changes are driven primarily by business needs rather than individual performance, which makes them especially difficult.”
Several areas would have been hit, such as the series and film creation division. According to the information, the layoffs involved from assistants to important directors within the company.
In the days following the balance sheet, the fall in shares on the US Stock Exchange cut about a third of Netflix’s market value. The information is from the newspaper. The State of São Paulo.
Source: CNN Brasil
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