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Losing subscribers: Netflix cutting US jobs
Losing subscribers: Netflix cutting US jobs
Losing subscribers: Netflix cutting US jobs

Science and Technology

Losing subscribers: Netflix cutting US jobs

Losing subscribers: Netflix cuts 150 US jobs after losing subscribers
Netflix caused almost 150 employees to lose their power. A month after broadcasting service lost its subscribers for the first time in ten years.

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The retrenchment, announced by the entertainment giant on Tuesday, will have a profound effect on its US office in California. About 2% of North American workforce.

Netflix said the loss of jobs was due to a decline in the company’s revenue.

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The broadcasting service is facing a migration of viewers this year.

“These changes are driven primarily by the needs of the business rather than. The performance of the individual. Which makes it even more difficult as none of us want to say goodbye to such great partners. The company said in a statement.

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It was not immediately clear which business units would see the job losses. But the Los Angeles Times reported that hiring, communications and the content department were all affected.

Some people also disclose their job losses online.


In April, the broadcasting giant shocked the industry when it revealed that it had lost 200,000 subscribers in the first three months of 2022, and warned another two million to quit next quarter.

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Losing subscribers: Netflix cutting US jobs
Losing subscribers: Netflix cutting US jobs

The news has caused investors to sell, with the company’s stock declining by 35% in one day. It is now trading at $ 190 (£ 152), a 46% drop in its previous premium.

Netflix shares fell 35% after the subscriber collapse
Is that enough for Netflix?


Although Netflix has 220 million subscribers worldwide and remains a clear market leader, it has faced stiff competition in recent years with the arrival of competing platforms such as Disney Plus, HBO, and Amazon’s Prime Video.

In its earnings report last month, the company also said the Ukrainian war and the decision to raise US prices had called for subscribers.

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Exit from the Russian market alone has cost the service 700,000 members, it revealed.

As well as job losses, the company also reduces content and delays its creation. In early May canceled the development of Pearl, a cartoon series created by Meghan Markle, in its bid to reduce costs.

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Some analysts say that after the increase in enrollment during the violence, Netflix has run out of easy ways to grow the business.

The company says it is looking at a cheaper, ad-based model and plans to combat password sharing that has cost 100 million homes.

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Netflix is ​​not the only one doing the job reduction. In recent weeks, dozens of U.S. tech companies from startups have become big names like Uber and Twitter have said they are reducing or reducing employment, or, like online car dealership Carvana, has announced redundancy, citing declines.

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