In economic difficulties, Netflix is ​​preparing to lay off


Louise Bernard, with Alexis Patri
modified to

09:48, May 19, 2022

Netflix loses subscribers for the first time in ten years and sees its share price plummet on the Wall Street stock exchange. As a result, the film and series streaming platform announces that it will lay off some of its employees, mainly in the United States, in an attempt to rectify its situation.

Netflix forced to lay off 2% of its staff. The film and series streaming platform is preparing to part ways with 150 of its employees, mainly in the United States. The objective of this wave of layoffs is obviously to save money, because the platform has been in difficulty since the beginning of 2022. Last April, Netflix announced that it had lost 200,000 subscribers in the first quarter. A first in ten years of activity which worried Wall Street.

Reassure the New York Stock Exchange

If these 200,000 fewer subscribers represent less than 0.1% of the total number of subscribers to the platform, its share price on the stock market has fallen dramatically since this announcement: -35% in a few days. Netflix explains this loss of subscribers in particular by the cessation of its service in Russia, following the war in Ukraine and international sanctions.

To cope with its difficult situation, the streaming platform announced the cancellation of several programs, including the animated series Pearl! which was to be signed by Meghan Markle. Netflix is ​​therefore now resorting to dismissal, in the hope of redressing its accounts and reassuring investors.



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