Why is Netflix laying off employees?
Why is Netflix laying off employees? “Today we sadly let go of around 300 employees,” a spokesperson said in a statement Thursday. “While we continue to invest significantly in the business, we made these adjustments so that our costs are growing in line with our slower revenue growth.
Is Netflix doing layoffs?
Netflix Announces More Layoffs
Roughly 300 Netflix employees were laid off on Thursday, the second round of layoffs by the streaming giant this year. In May, following the company’s Q1 report for 2022, Netflix let go of nearly 150 full-time employees and over 70 part-time and freelance employees.
How many people did Netflix layoff?
Netflix laid off 300 people on Thursday, the second consecutive month that the streaming giant has cut staff as it confronts declining subscriber growth and a falling share price. “Today we sadly let go of around 300 employees,” the company said in a statement.
How much severance does Netflix pay?
Today’s second-quarter earnings letter to shareholders revealed the streamer paid out $70 million in severance costs.
