{"id":38194,"date":"2022-06-23T19:43:03","date_gmt":"2022-06-23T19:43:03","guid":{"rendered":"https:\/\/tahrir2day.com\/news\/2022\/06\/23\/netflix-cuts-300-more-jobs-after-subscriptions-fall\/"},"modified":"2022-06-23T19:43:03","modified_gmt":"2022-06-23T19:43:03","slug":"netflix-cuts-300-more-jobs-after-subscriptions-fall","status":"publish","type":"post","link":"https:\/\/tahrir2day.com\/news\/2022\/06\/23\/netflix-cuts-300-more-jobs-after-subscriptions-fall\/","title":{"rendered":"Netflix cuts 300 more jobs after subscriptions fall"},"content":{"rendered":"
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Netflix has announced another round of job cuts as the company grapples with slowing growth and increasing competition.<\/b><\/p>\n<\/div>\n

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The streaming giant said it was cutting 300 more jobs — about 4% of its workforce — mostly in the US, after cutting 150 employees in May. <\/p>\n<\/div>\n

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The moves come after the company reported its first subscriber loss in more than a decade in April.<\/p>\n<\/div>\n

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The company is investigating an ad-supported service and cracking down on password sharing to spur growth.<\/p>\n<\/div>\n

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“While we continue to invest significantly in the business, we’ve made these adjustments to allow our costs to grow in line with our slower revenue growth,” Netflix said in a statement Thursday, adding that it continues to make hiring in other areas.<\/p>\n<\/div>\n

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Ted Sarandos, the company’s co-CEO, said Thursday at a conference in Cannes that Netflix is \u200b\u200bin talks with many companies to explore new ad partnerships.<\/p>\n<\/div>\n

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“We’re not adding ads to Netflix as you know it today. We’re adding an ad layer for people to say, ‘Hey, I want a lower price and I’ll look at ads,'” said Mr. Sarandos at Cannes Lions.<\/p>\n<\/div>\n

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  • Netflix hints at crackdown on password sharing<\/li>\n
  • Are we fed up with Netflix?<\/li>\n<\/ul>\n<\/div>\n<\/div>\n
    \n

    The Netflix job cuts come amid growing concerns in the US that the job boom the country has been experiencing since the end of the pandemic is coming to an end.<\/p>\n<\/div>\n

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    Signs of a slowdown are particularly clear in the tech sector, where startups have shed nearly 27,000 jobs since May — about double the total for all of 2021, according to Layoffs.fyi, which tracks publicly announced layoffs.<\/p>\n<\/div>\n

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    Companies in the housing sector have also announced hundreds of cuts in recent weeks.<\/p>\n<\/div>\n

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    The US Federal Reserve Governor this week told members of Congress that efforts to stem soaring prices by raising interest rates risk triggering a prolonged economic slowdown but have paid off in restoring price stability.<\/p>\n<\/div>\n

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    “We’re not trying to provoke and we don’t think we need to provoke a recession,” said Federal Reserve Chair Jerome Powell.<\/p>\n<\/div>\n

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    But when asked, he conceded that it was “certainly a possibility”.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

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