Netflix is laying off employees again. At the same time, the number of competitors is growing.
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Netflix: New layoffs at the streaming giant
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Netflix is laying off employees again. This is reported by the industry magazine Variety. In the second round of layoffs that began yesterday, Thursday, 300 employees have to leave the streaming provider.
The layoffs go through various areas of the company. The bulk of the layoffs are in the United States. Already in May 2022, around 150 employees had to leave Netflix. In addition, there were dozens of part-time employees and subcontractors back then. Netflix had already hinted at the time that the job cuts would continue. Netflix employs around 11,000 people worldwide, according to Variety.
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Netflix confirmed the job cuts to Variety, but at the same time emphasized that it wanted to continue investing in its business. However, given the slowdown in sales growth, it is important to reduce costs.
Netflix has been under pressure for some time. Netflix is losing more and more long-term subscribers, and in its latest quarterly report, Netflix announced that it had lost 200,000 customers.
One of the reasons for Netflix’s problems is likely to be the ever-increasing number of competitors. This affects Netflix not only in the USA, but also in Germany. Two well-known media companies recently announced that they would also start their streaming services in Germany:
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