150 Netflix employees lose job as subscribers dwindle
About 150 Netflix employees lost their job, mostly in the United States, almost a month after the streaming service reported a decrease in subscriber numbers for the first time in 10 years.
In the current era, video streaming site Netflix is considered to be the most popular platform in the world where users can watch all kinds of movies, dramas and shows of their choice.
However, for the first time in a decade, the subscribing video streaming site Netflix has fired their 150 employees in the United States due to a decreasing numbers of subscribers.
According to Netflix, the decision to cut jobs was made because of the company’s declining revenue.
“These changes are primarily driven by business needs rather than individual performance, which makes them particularly difficult because none of us want to say goodbye to such great colleagues,” the company said in a statement.
According to reports, it was not stated in which department of the company the jobs have been reduced, But the Los Angeles Times says the communications and content sectors have been affected.
Some employees of the company also revealed online that they have lost their jobs.
In April this year, Netflix revealed that the company had lost about 200,000 subscribers in the first three months of 2022, and warned that another 2 million subscribers would be lost in the coming quarters.
Although Netflix leads the world with 220 million subscribers, it has faced stiff competition in recent years with the advent of rival platforms such as Disney Plus, HBO and Amazon Prime.