Netflix lays off 150 employees
Netflix lays off 150 employees
- May 18, 2022
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Spencer Neumann, Netflix's chief financial officer said in the company's first-quarter earnings call in April that in the next two years the company intends to cut down some of its spendings. While it is true that Netflix will continue to dedicate some $17 billion annually to developing new television shows and movies, the company intends to do it with lesser people working behind the scenes.
At the time Mr. Neumann said, "We’re trying to be smart about it and prudent in terms of pulling back on some of that spending growth to reflect the realities of the revenue growth of the business." Certain sources say that there may be more layoffs this year
Source: The New York Times
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