Netflix fired hundreds of employees due to loss of subscribers – Cinema and Tv – Culture

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We are sorry that we did not see our slowdown sooner, so we could have secured a more gradual readjustment of the business.“, admitted the founders of Netflix, Reed Hastings and Ted Sarandos, in a press conference reported by the specialized media ‘The Hollywood Reporter’.

According to these statements, the cut affects 3% of the company’s workforce worldwide. Most of the layoffs, 216, are in the US and Canadian offices, while there are 53 in Europe, 30 in Asia and 17 in Latin America.

Netflix shares fell due to loss of subscribers.

Despite the bad situation, the company promised that by the middle of next year its workforce could grow again by more than a thousand new jobsalthough it did not specify which areas will monopolize that growth.

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According to the company’s latest earnings report, published in April, Netflix lost 200 thousand subscribers during the first quarter of 2022.

Netflix

Netflix may charge an additional fee for users who share their accounts.

Our relatively high demand in households (including the large number of households that share accounts), combined with competition, is creating difficulties for revenue growth.

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Among the new measures that would be contemplated later, and that would affect consumers, the service could charge an additional fee for sharing an account with other households and start broadcasting advertising for users with a cheaper subscription.

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