Layoffs have hit Netflix again

Streaming platform Netflix Inc. fired 300 of its employees on Thursday (June 23) according to a report published by Variety. Last month the company laid off 150 employees and dozens of contractors and part-time workers.

“While we continue to invest significantly in the business, we made these adjustments so that our costs are growing in line with our slower revenue growth. We are so grateful for everything they have done for Netflix and are working hard to support them through this difficult transition,” a Netflix spokesperson told the magazine.

 As of Dec. 31, 2021, Netflix reporting having about 11,300 full-time employees globally, of which 76% (around 8,600) were located in the U.S.

Earlier today, Netflix Co-Chief Executive Ted Sarandos said that the company is in discussions with several potential partners about helping it launch an ad-supported version of its platform.

Several media suggested the streaming giant is in talks with Google and NBCUniversal. “We’re talking to all of them right now,” Sarandos told an industry conference. “We want a pretty easy entry to the market—which, again, we will build on and iterate in. What we do at first will not be representative of what the product will be ultimately. I want our product to be better than TV,” he added.

Netflix aimd to introduce ads as a way to increase revenue. The company’s stock has fallen sharply after the streamer reported that its subscriber count dropped by 200,000 in the first quarter of 2022, the first drop in more than a decade.