New Netflix Layoffs Signal More Pain at Streaming Giant [TheStreet.com]
Netflix, Inc. (NFLX)
Last netflix, inc. earnings: 4/21 04:00 pm
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Source: TheStreet.com
Netflix has laid off an additional 300 employees this week, as the once dominant streaming service contends with a declining subscriber base and a decline in stock value. The loss represents about 3% of the company’s total employees.“Today we sadly let go of around 300 employees,” Netflix 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. We are so grateful for everything they have done for Netflix and are working hard to support them through this difficult transition.”In May, Netflixlaid off 150 employeesIn an internal email sent to staff Netflix Global Head of HR Sergio Ezama confirmed the May layoffs, saying “As we explained on earnings, our slowing revenue growth means we are also having to slow our cost growth as a company. So sadly, we are letting around 150 employees go today, mostly US-based."At the time, Netflix(NFLXGet Netflix Inc. Reportacco
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NFLX
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- 4/18/24 - Beat
NFLX
Sec Filings
- 4/22/24 - Form 10-Q
- 4/18/24 - Form ARS
- 4/18/24 - Form DEFA14A
- NFLX's page on the SEC website