Netflix just announced a second round of layoffs, firing 300 more employees!
Netflix Fires 300 More Employees In Round 2 Of Layoffs!
Back in February, Netflix announced that it lost 200,000 subscribers globally at the start of 2022. Even worse, it projected a decline of 2 million users in the upcoming quarter.
They blamed the drop on everything from increased competition from rival streaming services, to the economy and the war in Ukraine, as well as people sharing their Netflix accounts.
Their response was to curb losses by laying off their employees. They started by firing 150 employees last month, and followed up with 300 more employees this month.
Netflix Layoffs Are Minimal At Just 4%
So far, the 450 fired employees make up about 4% of the streaming giant’s workforce of about 11,000 globally.
Most of those who were fired were based in the US and allegedly of minorities, or those working on projects catering to marginalised communities.
Netflix also fired another 70 employees working for its social media and publishing teams last month, including those that catered to marginalised communities.
But while Netflix claimed that it will help reduce costs, the 4% trimming of their workforce is unlikely to make much of a dent… unless Netflix intends to fire even more employees.
Sadly, it seems likely we will see more people getting let go at Netflix.
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