Netflix reported in its most recent financial report that it lost subscribers for the first time in over a decade. Many claims have been made, such as that the platform will take steps in password sharing in order to prevent subscriber decline and loss in revenue, that it plans to add an affordable advertising option, and is considering adding a live broadcast option. Now, Netflix has reportedly parted ways with some of its employees.
HISTORICAL FALL! NEW MOVE FROM NETFLIX
Netflix has laid off 150 staff, most of them US-based, as Deadline reported. This move of the platform was seen as an effort to reduce costs after the historical decrease in the number of subscribers.
EXPLANATION IS COMING: “LACTURES DEPEND ON THIS”
A company spokesperson said the layoffs were directly linked to a slowdown in Netflix’s revenue growth. Analysts state that Netflix expects to lose another 2 million subscribers in the next quarter.