Netflix braces for another wave of layoffs

The American online broadcasting giant is preparing for a new wave of layoffs, according to the American magazine variety.

Posted at 3:13 p.m.

Laila Maalouf

Laila Maalouf

Affected employees should be notified by the end of the week, but it is not clear which departments will be affected.

A Netflix spokesperson interviewed by variety He declined to comment on the information. Sources say the size of the cuts should be similar to those of last May, which cost 150 employees, dozens of co-workers and part-time workers their jobs. Netflix, which has about 11,000 employees worldwide, said at the time that there would be more layoffs in 2022. Netflix stock has lost nearly 70% of its value since it revealed this. Spring lost nearly 200,000 subscribers in the first quarter of 2022, down from $600 per share in January to about $175 currently.

Pioneering in the field flowNetflix has faced stiff competition in recent years, particularly from Disney, Comcast, and Warner Bros. Discovery, which also had to lay off workers recently.

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