Netflix Sacks 150 US Employees Amidst Continued Revenue Woes

Last month, Netflix announced its loss of over 200k subscribers, and it appears the bad news isn’t over yet. The streaming giant recently announce that it’d fired about 150 employees from its US office in a bid to further contain its financial troubles. This is coming less than a month after it disengaged at least 10 full-time staff and contractors in its editorial and marketing divisions.

“These changes are primarily driven by business needs rather than individual performance, which makes them especially tough as none of us want to say goodbye to such great colleagues,” the company said in a statement.

“As we explained on earnings, our slowing revenue growth means we are also having to slow our cost growth as a company. So sadly, we are letting around 150 employees go today, mostly U.S.-based,” they added.

Do you think we’ve seen the last of Netflix’s financial troubles? Let me know in the comments below.