Netflix, a 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 continues to take the same measures 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. The company plans to eliminate redundant positions to reduce staff costs and make more money for other areas. In recent months, employees have been repeatedly laid off. There have been approximately 350 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. One hundred fifty 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 they wanted to improve internal processes and align product plans.