Online streaming giant Netflix has announced the dismissal of 150 workers, especially at its headquarters in the United States, after the loss of 200,000 subscribers during the first quarter of 2022.
“Our slowing revenue growth means we are also having to slow our cost growth as a company,” the company said in a statement to the media on Tuesday.
The statement underlined that the move was driven by driven by “business needs and not individual performance” of the employees, and that they were working to the fired staff in this period of difficult transition.
The dismissal of these 150 employees, representing two per cent of its workforce in the US, reflects a continuing slide in the fortunes of the online platform.
A month ago, its Wall Street listing dropped by 36 per cent, as a result of high user losses.
Since then, the company has decided to terminate the contracts of an unspecified number of workers in Tudum, a website that is part of its conglomerate and where its audiovisual contents are promoted.
In addition, the platform plans to eliminate another 70 temporary jobs in some of its associated animation studios, as well as in the hiring of freelance workers in charge of the group’s social networks, according to media reports on Tuesday.
Due to the saturation of the online streaming platform market, experts estimate that Netflix could lose another two million subscribers in the current quarter, generating a major upheaval among its shareholders and workers.
Netflix, based in Los Gatos in California, has a total of 11,000 employees, and approximately 220 million users worldwide, according to the latest data provided by the company.
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