Highlights

  • Netflix lays off about 150 employees
  • Majority of the cuts were made in the U.S.

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Netflix surprised Wall Street in the first quarter of 2022, reporting a net loss of 200,000 streaming customers — its first decline in more than a decade

Netflix has fired 150 people as the streaming platform faces revenue pressure with subscribers dropping for the first time in over a decade. The cuts represent 2 per cent of the streamer’s total workforce, with most of the cuts made in the United States.

In addition to the layoff of 150 full-time employees, Netflix is eliminating about 70 part-time jobs in its animation studio and is also cutting freelance roles in its social media and publishing group.

Also read/watch| Watch: Russians queue up at McDonald's outlets as it exits the country

It is not just people but even shows that are getting the 'pink slip' as they get cancelled. The shows Netflix has axed range from critically-acclaimed horrors like Archive 81 to beloved family viewings like The Babysitters' Club, and, well, Cooking with Paris. Nothing and no one it seems, is safe.

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