‘Netflix recruited me seven months ago just to fire me’

It’s been a tumultuous month for Netflix; The streaming service’s shares plunged more than 26% during premarket trading on April 20, after the company reported a loss of 200,000 subscribers during the first quarter — the first time its paid users dropped by more than one. decade. And it looks like things will continue to get worse before they get better, according to The Hollywood ReporterNetflix has begun laying off employees from Tudum, its fan site that the company’s marketing division launched last year.

Related: Spielberg strikes shocking movie deal with Netflix: ‘We can’t wait to get to work’

A person with inside knowledge of the situation said THR that at least 10 full-time employees and contractors at Tudum — an onomatopoeic homage to the sound that plays next to the Netflix logo when a user opens the app — were laid off on Thursday. It is currently unclear whether more layoffs are to come, but a Netflix spokesperson said THR that the site remains “an important priority for the company”.

Netflix initially launched Tudum in December of last year to create consumer-facing content focusing on Netflix series and movies like Bridgerton, Stranger Things, Love Is Blind and selling sunset, and hired several entertainment journalists and writers to drive its editorial growth. Earlier this week, Netflix experts reported THR that hiring had also slowed down at the company.

Needless to say, those who were laid off weren’t happy about it, and some took to Twitter in search of work and a paycheck to pay rent and other necessities.

Others mentioned the fact that the streamer reached out to them just seven months ago.

The tweets also provoked strong reactions from people not directly impacted by the layoffs.

It remains to be seen whether the streaming giant will initiate another round of layoffs or delve into other ways to cut costs. The company has already raised subscription prices, announced its intention to end password sharing and will introduce advertising on its platform.

Related: ‘Milking us for every dollar spent’: Netflix is ​​cracking down on password sharing with new fees and customers aren’t getting it

The company was up 0.49% at 10:15 am today.

Leave a Reply

Your email address will not be published.