Netflix announces layoffs of 300 employees
Netflix is currently considered the most popular platform in the world, but the number of Netflix subscribers has been steadily declining in recent months.
Netflix’s subscriber base plummeted in April this year, after which Netflix laid off about 150 employees in May.
However, the decline in users continues and Netflix has now decided to lay off 300 more employees.
Netflix also began testing ads to increase the number of users, while also trying to increase the number of subscribers by cracking down on password sharers.
However, a statement from Netflix stated that 300 jobs (approximately 4% of the workforce) were being laid off in the United States.
According to Netflix, the company continues to invest heavily in its business and this adjustment is due to the fact that our costs continue to rise due to the decline in the company’s revenue.
The company estimates that after a drop of 200,000 subscribers earlier this year, the number of subscribers is expected to fall by another 2 million by July.
On the other hand, the company has recently increased consumer fees in the United States, the United Kingdom and other countries.