The American online streaming giant is preparing for a new wave of layoffs, according to the American magazine variety.
Posted yesterday at 3:13 p.m.
Affected employees should be notified by the end of the week, but it is unclear which departments will be affected.
A Netflix spokesperson interviewed by variety declined to comment on the information. Sources suggest the scale of the cuts should be similar to those last May, which cost 150 employees and dozens of co-workers and part-timers their jobs. Netflix, which has around 11,000 employees worldwide, said at the time that there would be more rounds of layoffs in 2022. Netflix’s stock has lost almost 70% of its value since it revealed this. Spring has lost nearly 200,000 subscribers in the first quarter of 2022, dropping from $600 per share in January to around $175 at present.
Pioneer in the field of streamingNetflix has had to face stiff competition in recent years, particularly from Disney, Comcast and Warner Bros. Discovery, which has also had to make recent layoffs.