Netflix Laid Off 450 Employees in Two Months
For several years, Netflix, the company that first cracked the television streaming code, was an unstoppable growth machine. That was, of course, before Dinsey+, HBO Max, Apple TV, Hulu, and the seemingly a trillion other “[insert old media corpse] Plus” competitors joined the field. Netflix’s subscriber count has slowed down, and its business has taken a hit. The company announced the inevitable in May, revealing it would move to cut 150 employees or roughly 1.3% of its workforce.
Things have only gotten worse since then. About a month after Netflix’s initial layoffs the company announced another set of cuts, this time impacting 300 employees, or 4% of the company’s total workforce, according to The Guardian. Now, in a desperate effort to stop the bleeding of its more than 200,000 dearly departed subscribers, Netflix is apparently considering welcoming advertising to its platform. Welcome back to the early 2000s y’all.
