Netflix, streaming provider reported a decline in its user base for only the second time since it was founded a few weeks back. You want to save hundreds of employees and make them redundant. They are also looking for partners to create an ad-funded version. Netflix today cut 300 more jobs, following the US Economic Department Bloomberg reports. Netflix is continuing to take the same measures that it used a few months back to lower its costs.
Reduce costs by reducing the number of employees
The report states that the latest layoffs occurred in all divisions and most affected workers in the US. To reduce staff costs and make more money for other areas, the company plans to eliminate redundant positions. In recent months, employees have been repeatedly laid off. There have been around 450 layoffs in the last eight months for employees directly employed by Netflix.
There were also 150 contractors and employees who worked for the streaming company for no cost. 150 workers were recently laid off. At the end of 2021, approximately 11,300 employees were employed by the company. Management had previously justified cancellations by stating that they wanted to improve internal processes and align product plans.