Netflix has cut off almost 150 people, mostly in the united states, as it struggles with weak user growth and frozen paying subscriptions. According to TechCrunch, several top-tier creative employees from its original series vertical, including Sebastian Gibbs and Negin Salmasi, have been forced to leave. "As we have stated in relation to earnings, our slowing revenue growth means we must also decrease our expense growth. We are laying off approximately 150 staff today, the most of whom are situated in the united states "Late Tuesday, a Netflix spokeswoman was quoted in the newspaper as stating.
"These changes are generally motivated by business needs rather than individual performance," the spokeswoman stated. Netflix's stock dropped 20% after the company disclosed a 2 lakh paid subscriber loss in the first quarter of 2022, its first in more than a decade. Furthermore, it now expects a 20 lakh global paid subscriber loss in the April-June quarter (Q2). Netflix fired several seasoned journalists and writers from its entertainment site Tudum, which it barely debuted in december of last year.
Vice, Bustle, and other publications had engaged seasoned entertainment journalists for Netflix. The majority of the Tudum culture and trends crew was reportedly sacked. tesla CEO Elon Musk applauded the company's decision to tell its staff that if they don't agree with its content, they can leave the streaming giant.
"These changes are generally motivated by business needs rather than individual performance," the spokeswoman stated. Netflix's stock dropped 20% after the company disclosed a 2 lakh paid subscriber loss in the first quarter of 2022, its first in more than a decade. Furthermore, it now expects a 20 lakh global paid subscriber loss in the April-June quarter (Q2). Netflix fired several seasoned journalists and writers from its entertainment site Tudum, which it barely debuted in december of last year.
Vice, Bustle, and other publications had engaged seasoned entertainment journalists for Netflix. The majority of the Tudum culture and trends crew was reportedly sacked. tesla CEO Elon Musk applauded the company's decision to tell its staff that if they don't agree with its content, they can leave the streaming giant.
