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Netflix is ​​also starting to lay off: 150 employees at home

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Netflix announced the cut of 150 jobs following the slowdown in revenue and the decline in subscribers that has rocked the entertainment industry. The company did not specify which departments will be affected by the cuts, even though most of the job losses are in the United States. “As we explained on the occasion of the earnings, the slowdown in revenue growth forces us to slow down the growth of costs as well,” admitted a spokesperson for Netflix. “Unfortunately today we are letting go of about 150 employees, mostly from the US. These changes are driven primarily by business needs rather than individual performance, which makes them particularly difficult because none of us want to say goodbye to such great colleagues. support them in this difficult transition”.

The announcement comes after Netflix reported a loss of 200,000 subscribers in the first quarter for the first time in more than a decade. The Los Gatos, California-based streaming service expects to lose another 2 million subscribers this quarter. Following the earnings report, the company’s stock fell 35.1% to $ 226.19 on April 20, the largest single-day drop since 2004. Netflix is ​​rethinking its business model, which it has long relied on offering a large amount of ad-free content at a premium price of $ 15.49 per month for a standard subscription.

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