Netflix again takes a stand with the counterculture that’s resisting woke culture.

Netflix Just Announced Massive Layoffs As Subscribers Bail

Bryan Babb

Netflix is set to lay off approximately 150 employees in an attempt to curb costs following slow revenue growth in the first quarter of 2022, Variety reported.

The layoffs constitute approximately 2% of Netflix U.S.’s workforce and cut across all departments, according to Variety, citing an internal employee email. A company representative explained that the cross-department layoffs were not a result of employee performance, but rather an effort to reduce costs following slow growth in the first quarter.

“As we explained [in reporting Q1] earnings, our slowing revenue growth means we are also having to slow our cost growth as a company,” the representative said in the email, according to Variety. “So sadly, we are letting around 150 employees go today, mostly U.S.-based. These changes are primarily driven by business needs rather than individual performance, which makes them especially tough as none of us want to say goodbye to such great colleagues. We’re working hard to support them through this very difficult transition.”

Variety reported that a number of contract employees were also affected by the layoffs. Netflix is additionally cutting 70 part-time positions in its animation studio while canceling projects including “Wings of Fire” and “Antiracist Baby.

Netflix lost 200,000 subscribers in the Q1 of 2022 and is expected to lose an additional 2 million by the end of Q2,according to a letter from the company to its shareholders. The streaming service stated that had it not been for cutting its content in Russia, 500,000 subscribers would have been added in Q1.

Netflix updated employees on company behavioral standards in a corporate culture memo published Thursday. In a section labeled “Artistic Expression,” the company told its employees that if they found it difficult to “support our content breadth, Netflix may not be the best place for you.”

Netflix did not immediately respond to The Daily Caller News Foundation’s request for comment.

Copyright 2022 The Free Press, LLC, tampafp.com All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Visit Tampafp.com for PoliticsTampa Area Local NewsSports, and National Headlines. Support journalism by clicking here to our GiveSendGo or sign up for our free newsletter by clicking here

Android Users, Click Here To Download The Free Press App And Never Miss A Story. Follow Us On Facebook Here Or Twitter Here.

Advertisement

Login To Facebook From Your Browser To Leave A Comment

Leave a Reply

Your email address will not be published.