Netflix cuts 150 US-based jobs

Share Us

491
Netflix cuts 150 US-based jobs
18 May 2022
5 min read

Podcast

News Synopsis

Netflix has cut off approximately 150 employees, just a month after announcing that it has lost customers for the first time in a decade. The streaming service announced the layoffs on Tuesday, affecting mostly its California location. They make up around 2% of the company's North American workforce

Netflix attributed the employment cuts to a drop in income. This year, the streaming service is seeing a viewer exodus. The company in a statement, said, "These adjustments are generally motivated by business needs rather than individual performance. This makes them extremely difficult because none of us want to say goodbye to such outstanding colleagues."

Netflix has cut off approximately 150 employees, just a month after announcing that it has lost customers for the first time in a decade. Although it was not specified which sectors of the company would lose jobs. The Los Angeles Times stated that recruiting, communications, and the content department would all be affected. Some folks also posted about their job loss on social media.

In April, the streaming behemoth stunned the industry by revealing that it had lost 200,000 members in the first three months of 2022, with another two million set to leave in the next quarter.

You May Like