Advertisement

Netflix Lays Off 300, Biggest Yet

The bloodletting at Netflix continued on Thursday as the far-left-wing streamer axed an additional 300 employees worldwide, or about 3 percent of its workforce — the company’s largest layoff since its subscriber downturn in the first quarter.
Netflix handed out pink slips to 216 staffers in the U.S. and Canada, with the remainder of the cuts coming from other regions throughout the world. according to an official statement sent to  multiple news outlets.
In May, the streamer laid off 150 employees, or 2 percent of its workforce, as part of its ongoing efforts to cut spending amid a catastrophic subscriber forecast for the months ahead. Netflix said it could lose up to 2 million subscribers in the coming months after unexpectedly losing 200,000 customers in the first quarter of the year.
Reed Hastings, chief executive officer of Netflix Inc., speaks during a news conference in Tokyo, Japan, on Monday, June 27, 2016. (Akio Kon/Bloomberg via Getty Images)
Those layoffs were preceded by smaller staffing cuts in Netflix’s animation department and in-house fan site, Tudum.
Netflix leaders described Thursday’s layoffs as ” very hard for everyone – creating a lot of anxiety and uncertainty.”
“We plan to return to a more normal course of business going forward. And as we cut back in some areas, we also continue to invest significant amounts in our content and people,” co-CEO Reed Hastings said in a memo obtained by The Hollywood Reporter.
He said Netflix plans to increase its employee base during …

U.S. National Debt

The current U.S. national debt:
$30,724,398,554,149